The second quarter Form 941 (Employer's Quarterly Federal Tax Return) is also due today. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until August 10 to file the return.
If you have employees, a federal unemployment tax (FUTA) deposit is due if the FUTA liability through June exceeds $500.
Pensions, profit sharing , or stock bonus plans must file Form 5500, or request an extension
August 16, 2010
If the monthly deposit rule applies, employers must deposit the tax for payments in July for social security, Medicare, withheld income tax, and nonpayroll withholding.
September 15, 2010
Third quarter estimated tax payments are due for individuals.
Third quarter estimated tax payments are due for trusts.
Third quarter estimated tax payments are due for calendar-year corporations.
If a six-month extension was obtained, calendar-year corporations should also file their 2009 income tax returns by this date.
Partnerships that received an additional five-month extension must file their Forms 1065 today.
If the monthly deposit rule applies, employers must deposit the tax for payments in August for social security, Medicare, withheld income tax, and nonpayroll withholding.
October 15, 2010
Personal returns that received an automatic six-month extension must be filed today and any tax, interest, and penalties due must be paid.
If the monthly deposit rule applies, employers must deposit the tax for payments in September for social security, Medicare, withheld income tax, and nonpayroll withholding.
November 1, 2010
The third quarter Form 941 (Employer's Quarterly Federal Tax Return) is due today and any undeposited tax must be deposited. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until November 10 to file the return.
If you have employees, a federal unemployment tax (FUTA) deposit is due if the FUTA liability through September exceeds $500.
November 15, 2010
If the monthly deposit rule applies, employers must deposit the tax for payments in October for social security, Medicare, withheld income tax, and nonpayroll withholding.
December 15, 2010
Calendar-year corporations must deposit the fourth installment of estimated income tax for 2010.
January 15, 2011
Individual taxpayer's final 2010 estimated tax payment is due unless Form 1040 is filed by January 31, 2011, and any tax due is paid with the return.
If the monthly deposit rule applies, employers must deposit the tax for payments in December for social security, Medicare, withheld income tax, and nonpayroll withholding.
January 31, 2011
Most employers must file Form 941 (Employer's Quarterly Federal Tax Return) to report Medicare, social security, and income taxes withheld in the fourth quarter of 2010. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until February 10 to file the return. Small employers who have been notified by the IRS should file Form 944 (Employer's Annual Federal Tax Return).
Give your employees their copies of Form W-2 for 2010. If an employee agreed to receive Form W-2 electronically, have it posted on the website and notify the employee.
Generally, give annual information statements to recipients of certain payments you made during 2010. You can use the appropriate version of Form 1099 or other information return. Form 1099 can be filed electronically with the consent of the recipient.
File Form 940 [Employer's Annual Federal Unemployment (FUTA) Tax Return] for 2010. If your undeposited tax is $500 or less, you can either pay it with your return or deposit it. If it is more than $500, you must deposit it. However, if you deposited the tax for the year in full and on time, you have until February 10 to file the return.
File Form 945 (Annual Return of Withheld Federal Income Tax) for 2010 to report income tax withheld on all nonpayroll items, including backup withholding and withholding on pensions, annuities, IRAs, etc. If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for the year in full and on time, you have until February 10 to file the return.
February 15, 2011
If the monthly deposit rule applies, employers must deposit the tax for payments in January for social security, Medicare, withheld income tax, and nonpayroll withholding.
February 28, 2011
The government's copy of Form 1099 series returns (along with the appropriate transmittal form) should be sent in by today. However, if these forms will be filed electronically, the due date is extended to March 31.
The government's copy of Form W-2 series returns (along with the appropriate transmittal form) should be sent in by today. However, if these forms will be filed electronically, the due date is extended to March 31.
March 15, 2011
2010 income tax returns must be filed or extended for calendar-year corporations. If the return is not extended, this is also the last day for calendar-year corporations to make 2010 contributions to pension and profit-sharing plans.
If the monthly deposit rule applies, employers must deposit the tax for payments in February for social security, Medicare, withheld income tax, and nonpayroll withholding.
Current Issues
Distributions from Inherited IRAs
It is becoming increasingly common for individuals to inherit IRAs. By inheriting an IRA, we mean when you become entitled to some or all of the balance in a deceased account owner's traditional IRA or Roth IRA by virtue of being designated as an account beneficiary.
In this scenario, you may think your share of the inherited IRA can be rolled over tax-free into your own IRA before the familiar 60-day deadline for rollovers has passed.
