Upcoming Tax Deadlines

March

DAY
02 Farmers and Fishermen – File your 2019 income tax return (Form 1040 or Form 1040-SR) and pay any tax due. However, you have until April 15 to file if you paid your 2019 estimated tax by January 15, 2020.
02 Health Coverage Reporting – If you’re an Applicable Large Employer, provide Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, to full-time employees. For all other providers of minimum essential coverage, provide Form 1095-B, Health Coverage, to responsible individuals. See the Instructions for Forms 1094-B and 1095-B and the Instructions for Forms 1094-C and 1095-C for more information about the information reporting requirements.
02 Large Food and Beverage Establishment Employers – File Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips. Use Form 8027-T, Transmittal of Employer’s Annual Information Return of Tip Income and Allocated Tips, to summarize and transmit paper Forms 8027 if you have more than one establishment. If you file Forms 8027 electronically, your due date for filing them with the IRS will be extended to March 31.
10 Employees Who Work for Tips – If you received $20 or more in tips during February, report them to your employer. You can use Form 4070.
16 Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in February.
16 Employers – Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in February.
16 Partnerships – File a 2019 calendar year return (Form 1065). Provide each partner with a copy of their Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc., or substitute Schedule K-1 (Form 1065). To request an automatic 6-month extension of time to file the return, file Form 7004. Then file the return and provide each partner with a copy of their final or amended (if required) Schedule K-1 (Form 1065) by September 15.
16 S Corporation Election – File Form 2553 to elect to be treated as an S corporation beginning with calendar year 2020. If Form 2553 is filed late, S corporation treatment will begin with calendar year 2021.
16 S Corporations – File a 2019 calendar year income tax return (Form 1120-S) and pay any tax due. Provide each shareholder with a copy of their Schedule K-1 (Form 1120-S), Shareholder’s Share of Income, Deductions, Credits, etc., or substitute Schedule K-1 (Form 1120-S). To request an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe in tax. Then file the return; pay any tax, interest, and penalties due; and provide each shareholder with a copy of their Schedule K-1 (Form 1120-S) by September 15.
31 Electronic Filing of Forms – File copies of all the Forms W-2G you issued for 2019. This due date applies only if you electronically file. Otherwise, see February 28, earlier. The due date for giving the recipient these forms remains January 31.
31 Electronic Filing of Forms – File Forms 1097, 1098, 1099 (except a Form 1099-MISC reporting nonemployee compensation), 3921, 3922, and W-2G with the IRS. This due date applies only if you file electronically. Otherwise, see February 28, earlier. The due date for giving the recipient these forms generally remains January 31.
31 Electronic Filing of Forms – File Forms 8027 for 2019. This due date applies only if you electronically file. Otherwise, see March 2, earlier.
31 Electronic Filing of Forms – If you’re an Applicable Large Employer, file electronic Forms 1094-C and 1095-C with the IRS. For all other providers of minimum essential coverage, file electronic Forms 1094-B and 1095-B with the IRS. Otherwise, see February 28, earlier.

April

DAY
10 Employees Who Work for Tips – If you received $20 or more in tips during March, report them to your employer. You can use Form 4070.
15 Corporations – Deposit the first installment of estimated income tax for 2020. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.
15 Corporations – File a 2019 calendar year income tax return (Form 1120) and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe in taxes.
15 Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in March.
15 Employers – Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in March.
15 Household Employers – If you paid cash wages of $2,100 or more in 2019 to a household employee, you must file Schedule H (Form 1040 or 1040–SR), Household Employment Taxes. If you’re required to file a federal income tax return (Form 1040 or Form 1040-SR), file Schedule H (Form 1040 or 1040-SR) with the return and report any household employment taxes. Report any federal unemployment (FUTA) tax on Schedule H (Form 1040 or 1040-SR) if you paid total cash wages of $1,000 or more in any calendar quarter of 2018 or 2019 to household employees. Also, report any income tax you withheld for your household employees.
15 Household Employers – If you paid cash wages of $2,100 or more in 2019 to a household employee, you must file Schedule H (Form 1040 or 1040-SR). If you’re required to file a federal income tax return (Form 1040 or Form 1040-SR), file Schedule H (Form 1040 or 1040-SR) with the return and report any household employment taxes. Report any federal unemployment (FUTA) tax on Schedule H (Form 1040 or 1040-SR) if you paid total cash wages of $1,000 or more in any calendar quarter of 2018 or 2019 to household employees. Also, report any income tax you withheld for your household employees.
15 Individuals – File a 2019 Form 1040 or Form 1040-SR and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 4868 and pay what you estimate you owe in tax to avoid penalties and interest. For more information, see Form 4868. Then, file Form 1040 or Form 1040-SR by October 15.
15 Individuals – If you’re not paying your 2020 income tax through withholding (or won’t pay in enough tax during the year that way), pay the first installment of your 2020 estimated tax.
30 Employers – Federal unemployment tax. Deposit the tax owed through March if more than $500.
30 Employers – Social security, Medicare, and withheld income tax. File Form 941 for the first quarter of 2020. Deposit or pay any undeposited tax under the accuracy of deposit rules. 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 timely, properly, and in full, you have until May 11 to file the return.

May

DAY
11 Employees Who Work for Tips – If you received $20 or more in tips during April, report them to your employer. You can use Form 4070.
15 Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in April.
15 Employers – Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in April.

© Advanced Insight Accounting 2024.