Important Tax Dates

Important Tax DatesThe soothsayer famously warned William Shakespeare’s Julius Caesar to “Beware the Ides (fifteenth day) of March.”

Most United States taxpayers, though, fear the Ides of April, the day on which annual tax returns are due. For businesses, there are several other important tax dates as well.

 

Weekends

If a tax date falls on a weekend in a given year, it is moved to the next business day.

Recurring Monthly Dates

Employees should report to employers tip income over $20 for a month by the eleventh of the following month. Payroll taxes are deposited according to either monthly or semi-weekly rules. Monthly deposits are due on the 15th day of each month and semi-weekly ones every Wednesday and Friday. On the last day of the month, you should file Form 730 and pay taxes on wagers and file Form 2290 and pay taxes on vehicles for the month.

Quarterly Dates

Estimated quarterly taxes, referred to informally as “quarterlies” (Form 1120), are due four times a year on the fifteenth. For corporations, quarterlies are due in December, March, June, and September. Individuals, including the self-employed and sole proprietors, pay quarterlies in January, March, June, and September.

Annual Dates:

Form 1099 (all categories) must be distributed to employees by 31 January and filed by your business by 28 February. US citizens living outside the United States file Form 1040 by 15 June. Many annual forms for corporations, individuals, and partnerships are due on 15 April.

IRS Calendar Tools

The Internal Revenue Service tax calendar website lists important tax dates for small businesses. The IRS desktop calendar tool, “IRS CalendarConnector”, stores and updates a customizable version of the calendar on your desktop.

IRS Resources:

Internal Revenue Service: Tax Calendar
http://www.irs.gov/businesses/article/0,,id=100935,00.html

Internal Revenue Service: IRS CalendarConnector
http://www.irs.gov/businesses/small/article/0,,id=176080,00.html

Certified Tax Coach also posts a complete listing of tax dates for forms and due dates.

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