Want more information?
(812)-883-6938
906 W. Mulberry St
P.O. Box 225
Salem, Indiana 47167
Latest news
October 2026 Individual Due Dates October 13 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during September, you are required to report them to your employer no later than October 13. You can use IRS Form 4070 or your own statement that includes your signature; name, address and Social Security number; employer’s name (or establishment’s name if different) and address; month or period the report covers, and total of tips received during that month or period. Your employer is required to withhold FICA taxes and income tax withholding for these tips from your regular wages. If your regular wages are insufficient to cover the FICA and tax withholding, the employer will report the amount of the uncollected withholding in box 8 of your W-2 for the year. You will be required to pay the uncollected withholding when your return for the year is filed. October 15 - Individuals If you requested an automatic 6-month extension to file your income tax return for 2025, file Form 1040 and pay any tax, interest, and penalties due. October 15 - Taxpayers with Foreign Financial Interests If you received an automatic 6-month extension of time to report your 2025 foreign financial accounts to the Department of the Treasury, this is the due date for Form FinCEN 114. Weekends & Holidays: If a due date falls on a Saturday, Sunday or legal holiday, the due date is automatically extended until the next business day that is not itself a legal holiday. Disaster Area Extensions: Please note that when a geographical area is designated as a disaster area, due dates will be extended. For more information whether an area has been designated a disaster area and the filing extension dates visit the following websites: FEMA: https://www.fema.gov/disaster/declarations IRS: http s ://www.irs.gov/newsroom/tax-relief-in-disaster-situations October 2026 Business Due Dates October 15 - Corporations File a 2025 calendar year income tax return (Form 1120) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic 6-month extension by April 15. October 15 - Social Security, Medicare and Withheld Income Tax If the monthly deposit rule applies, deposit the tax for payments in September. October 15 - Nonpayroll Withholding If the monthly deposit rule applies, deposit the tax for payments in September. October 15 - Last Day to Establish a Keogh Account for 2025 If you received an automatic 6-month extension of time to file your 2025 tax return and are self-employed, October 15, 2026, is the last day to establish a Keogh Retirement Account if you plan to make a contribution for 2025. October 15 - SEP IRA & Keogh Contributions Last day to contribute to a SEP or Keogh retirement plan for calendar year 2025 if your tax return is on extension through October 15. Weekends & Holidays: If a due date falls on a Saturday, Sunday or legal holiday, the due date is automatically extended until the next business day that is not itself a legal holiday. Disaster Area Extensions: Please note that when a geographical area is designated as a disaster area, due dates will be extended. For more information whether an area has been designated a disaster area and the filing extension dates visit the following websites: FEMA: https://www.fema.gov/disaster/declarations IRS: https: / /www.irs.gov/newsroom/tax-relief-in-disaster-situations
As families prepare for the new school year, many states are once again offering sales tax holidays —limited-time periods when shoppers can purchase certain items without paying state sales tax. While these tax-free events can lead to meaningful savings, the rules vary widely by state. Some holidays last only a weekend, while others span several weeks. Eligible items also differ, with some states exempting only clothing and school supplies while others include computers, emergency preparedness equipment, or energy-efficient appliances. Source: Sales Tax Institute. What Is a Sales Tax Holiday? A sales tax holiday is a designated period during which states temporarily suspend sales tax on specific purchases. Most are timed around the back-to-school shopping season, although some states also hold tax holidays for hurricane preparedness, hunting supplies, or energy-efficient products. Source: Sales Tax Institute. Which States Are Participating? Where Are Back-to-School Sales Tax Holidays Happening? The following states are offering statewide back-to-school sales tax holidays or similar tax relief programs during the 2026 shopping season. Keep in mind that dates, eligible items, and price limits vary by state. Arkansas (Aug. 1–2): Clothing, school supplies, instructional materials, and many electronics. Connecticut (Aug. 16–22): Clothing, footwear, backpacks, and qualifying school supplies under applicable limits. Florida (July 20–Aug. 20): Clothing, school supplies, learning aids, and computers meeting price thresholds. Illinois (Aug. 7–16): Reduced state sales tax rate on qualifying clothing, footwear, and school supplies. Iowa (Aug. 7–8): Clothing and footwear under $100 per item. Maryland (Aug. 9–15): Clothing and footwear priced at $100 or less. Massachusetts (Aug. 8–9): Most retail items priced up to $2,500 qualify, with certain exclusions. Missouri (Aug. 7–9): Clothing, school supplies, computers, software, and calculators within price limits. New Mexico (July 31–Aug. 2): Clothing, school supplies, computers, backpacks, calculators, and related technology. Ohio (Aug. 7–9): Qualifying clothing, school supplies, and instructional materials. Oklahoma (Aug. 7–9): Clothing and footwear under $100 per item. South Carolina (Aug. 7–9): Clothing, school supplies, computers, printers, software, and select household items. Tennessee (July 31–Aug. 2): Clothing, school supplies, and qualifying computers. Texas (Aug. 7–9): Clothing, footwear, backpacks, and most school supplies under $100 per item. Virginia (Aug. 7–9): Clothing, school supplies, emergency preparedness items, and qualifying Energy Star products. West Virginia (July 31–Aug. 3): Clothing, school supplies, laptops, tablets, and qualifying sports equipment. While back-to-school shopping receives the most attention, it's not the only type of sales tax holiday taking place throughout the year. Several states also offer temporary tax exemptions on items such as hurricane and emergency preparedness supplies, Energy Star® appliances, hunting and fishing equipment, firearms and ammunition, severe weather preparedness products, and even certain purchases made by members of the National Guard. These holidays are designed to encourage preparedness, support conservation efforts, or promote specific industries, and the qualifying items and dates vary widely by state. Before making a major purchase, it's worth checking whether your state offers a tax holiday that could help you save. Source: Sales Tax Institute; Federation of Tax Administrators. Read the Fine Print One of the biggest misconceptions about sales tax holidays is that everything is tax-free. In reality, each state establishes its own eligibility rules. Many programs include price limits, exclude luxury goods or accessories, or apply only to certain categories of merchandise. Some states also have different rules for online purchases, layaway transactions, coupons, and shipping charges. Source: Sales Tax Institute; Federation of Tax Administrators. Are the Savings Worth It? For families already planning back-to-school shopping, timing purchases to coincide with a sales tax holiday can reduce costs . With back-to-school expenses continuing to rise, even modest tax savings can make a difference, especially when purchasing clothing, backpacks, school supplies, or computers that qualify under your state's rules. However, shoppers shouldn't buy items simply because they're temporarily tax-free. The greatest benefit comes from purchasing items you were already planning to buy while understanding your state's specific requirements. Sales tax holidays can provide valuable savings, but they aren't one-size-fits-all. Before heading to the store, or placing an online order, check your state's rules to confirm the dates, eligible items, and any purchase limits that apply. If you own a retail business, remember that sales tax holidays also create additional compliance responsibilities. Your tax professional can help ensure you're applying your state's rules correctly and collecting the appropriate amount of sales tax throughout the year.