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.
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Current Issues
The Unearned Income Medicare Contribution
Beginning in 2013, taxpayers with modified adjusted gross income (MAGI) over $200,000 ($250,000 for a joint return or $125,000 for married filing separate) will be subject to a 3.8% surtax called the Unearned Income Medicare Contribution (UIMC) on net investment income.
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