Tax Due Dates

February 15, 2012

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, 2012

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, 2012

2011 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 2011 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.

April 16, 2012

Last day to file (or extend) your 2011 personal return and pay any tax that is due. So are 2011 returns for trusts and calendar-year estates, partnerships, and LLCs, plus any final contribution you plan to make to an IRA or Education Savings Account for 2011. SEP and Keogh contributions are also due today if your return is not being extended.
First quarter estimated tax payments are due for individuals.
First quarter estimated tax payments are due for trusts.
First quarter estimated tax payments are due for calendar-year corporations.
If you need to file a 2011 gift tax return, it also must be filed or extended by this date.
If you paid cash wages of $1,700 or more in 2011 to a household employee, you must file Schedule H by this date. You may also have to report any federal unemployment tax paid and any income tax you withheld for your household employees.

May 16, 2012

If the monthly deposit rule applies, employers must deposit the tax for payments in April for social security, Medicare, withheld income tax, and nonpayroll withholding.

June 15, 2012

Second quarter estimated tax payments are due for individuals.
Second quarter estimated tax payments are due for trusts.
Second quarter estimated tax payments are due for calendar-year corporations.
If the monthly deposit rule applies, employers must deposit the tax for payments in May for social security, Medicare, withheld income tax, and nonpayroll withholding.

July 15, 2012

If the monthly deposit rule applies, employers must deposit the tax for payments in June for social security, Medicare, withheld income tax, and nonpayroll withholding.

August 1, 2012

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 15, 2012

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 17, 2012

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 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, 2012

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.

October 31, 2012

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, 2012

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.

Current Issues

Selecting a C Corporation's Tax Year

Businesses that operate as C corporations have substantial flexibility when selecting a tax year. However, businesses that operate as partnerships or S corporations are restricted by law in their choice of a tax year. Once selected, a tax year generally must be maintained until the business is required or elects (with IRS permission, if necessary) to change it.