• May 2017 Business Due Dates

    1 May 2017
    327 Views
    Comments are off for this post
    dagley_may

    Happy May 1st! We’ve compiled your business due dates for this new month. Add these to your calendar NOW to stay on track!

    May 1 –  Federal Unemployment Tax 
    Deposit the tax owed through March if it is more than $500.

    May 1 – Social Security, Medicare and Withheld Income Tax
    File Form 941 for the first quarter of 2017. Deposit or pay any un-deposited 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 in full and on time, you have until May 10 to file the return.

    May 10 – Social Security, Medicare and Withheld Income Tax
    File Form 941 for the first quarter of 2017. This due date applies only if you deposited the tax for the quarter in full and on time.

    May 15 – Employer’s Monthly Deposit Due
    If you are an employer and the monthly deposit rules apply, May 15 is the due date for you to make your deposit of Social Security, Medicare and withheld income tax for April 2017. This is also the due date for the non-payroll withholding deposit for April 2017 if the monthly deposit rule applies.
    Contact Dagley & Co. with any questions regarding May’s due dates.

     

     

     

     

     

     

     

     

     

     

     

     

     

    Image via public domain

    Continue Reading
  • March 2017 Business Due Dates

    27 February 2017
    318 Views
    Comments are off for this post
    tax day

    At Dagley & Co., we’ve compiled a list of due dates for your business. Contact us at (202) 417-6640 with any questions.

    March 15 –  Partnerships

    File a 2016-calendar year return (Form 1065). Provide each partner with a copy of Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc., or a substitute Schedule K-1. If you want an automatic 6-month extension of time to file the return and provide Schedules K-1 or substitute Schedules K-1 to the partners, file Form 7004. Then, file Form 1065 and provide the K-1s to the partners by September 15.

    March 15 –  S-Corporation Election

    File Form 2553, Election by a Small Business Corporation, to choose to be treated as an S corporation beginning with calendar year 2017. If Form 2553 is filed late, S treatment will begin with calendar year 2018.

    March 15 –  Electing Large Partnerships

    File a 2016-calendar year return (Form 1065-B) and provide each partner with a copy of Schedule K-1 (Form 1065-B), Partner’s Share of Income (Loss) From an Electing Large Partnership, or a substitute Schedule K-1. This due date applies for K-1s even if the partnership requests an extension of time to file the Form 1065-B by filing Form 7004.

    March 15 – Social Security, Medicare and Withheld Income Tax

    If the monthly deposit rule applies, deposit the tax for payments in February.

    March 15 – Non-Payroll Withholding

    If the monthly deposit rule applies, deposit the tax for payments in February.
    March 31 – Electronic Filing of Forms 1098, 1099 and W-2G

    If you file Forms 1098, 1099 (other than 1099-MISC with an amount in box 7), or W-2G electronically with the IRS, this is the final due date. This due date applies only if you file electronically (not paper forms). Otherwise, January 31 or February 28 was the due date, depending on the form filed. The due date for giving the recipient these forms was January 31.

    March 31 – Large Food and Beverage Establishment Employers 

    If you file Forms 8027 for 2016 electronically with the IRS, this is the final due date. This due date applies only if you file electronically. Otherwise, February 28 is the due date.
     

     

     

     

     

     

     

     

     

    Image via public domain

    Continue Reading
  • February 2017 Business Due Dates

    6 February 2017
    338 Views
    Comments are off for this post
    due dates

    Are you a business owner? Be sure to follow these specific due dates regarding payroll, taxes, social security, etc. Remember: February is the shortest month of the year so we recommend keeping track of all due dates, and always plan ahead!

    February 10 – Non-Payroll Taxes

    File Form 945 to report income tax withheld for 2016 on all non-payroll items. This due date applies only if you deposited the tax for the year in full and on time.

    February 10 – Social Security, Medicare and Withheld Income Tax

    File Form 941 for the fourth quarter of 2016. This due date applies only if you deposited the tax for the quarter in full and on time.

    February 10 – Certain Small Employers

    File Form 944 to report Social Security and Medicare taxes and withheld income tax for 2016. This due date applies only if you deposited the tax for the year in full and on time.

    February 10 – Federal Unemployment Tax

    File Form 940 for 2016. This due date applies only if you deposited the tax for the year in full and on time.

    February 15 – Social Security, Medicare and Withheld Income Tax

    If the monthly deposit rule applies, deposit the tax for payments in January.

    February 15 – Non-Payroll Withholding

    If the monthly deposit rule applies, deposit the tax for payments in January.

    February 28 – Payers of Gambling Winnings

    File Form 1096, Annual Summary and Transmittal of U.S. Information Returns, along with Copy A of all the Forms W-2G you issued for 2016. If you file Forms W-2G electronically, your due date for filing them with the IRS will be extended to March 31. The due date for giving the recipient these forms was  January 31.

    February 28 – Informational Returns Filing Due

    File government copies of information returns (Form 1099) and transmittal Forms 1096 for certain payments you made during 2016, other than the 1099-MISCs that were due January 31. There are different 1099 forms for different types of payments.

    February 28 – 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 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.

    February 28 – Farmers and Fishermen

    File your 2016 income tax return (Form 1040) and pay any tax due. However, you have until April 18 to file if you paid your 2016 estimated tax by January 17, 2016.

     

    Contact Dagley & Co. with any questions or comments regarding this month’s due dates.

     

     

     

     

     

     

     

    Image via public domain

    Continue Reading