Business/Employer Tax Calendar (2018)

2018 BUSINESS AND EMPLOYER TAX CALENDAR

JANUARY

January 4
Stop advance payments of earned income credit for any employee who did not give you a new Form W-5 for 2018.

January 15 
Payroll tax deposits for December are due if you’re not on a semiweekly deposit schedule. If it is less than $ 2500, you can wait until next month when your 941 filing is due.

All Month:  You need to prepare your W-2 and 1099’s. Because you don’t want to wait until the last moment they are due.

January 31

You must file your W-2’s for 2017. Your employees need them in their possession, too.
You must file Form 1099 information statements to the recipients of certain payments you made for services during 2017. Any independent contractor compensation, interest on seller financed mortgages, rent, professional services fees, real estate transactions, profit-sharing and pension plan distributions are to be included. The law stipulates fines and penalties if you fail to do so for any covered entity that received more than $ 599.99 during the year.
You must file Form 941 (payroll taxes) for the fourth quarter payroll or Form 944 (annual payroll taxes) if you are an annual filer. In addition, you need to file Form 940 (federal unemployment taxes). File Form 945 to report income tax withheld for 2017 on all nonpayroll items, such as pensions, annuities and IRAs. File Form 944 for the 2017 tax year if your employment tax liability was $1,000 or less.
(If you actually used cash, you must file form 8300 for those you paid more than $10K in a single cash transaction during 2017.)
If your state is NOT one that uses the 20th of the month, this is the date your quarterly tax submission and unemployment taxes are due.

FEBRUARY

February 15
Payroll tax deposits for January are due, if you are not a semi-weekly deposit entity.

February 28
Send Form W-3, Transmittal of Wage and Tax Statements, the summary of all the W-2’s listed above to the IRS along with Copy A of all employee W-2’s you issued in 2016 for calendar-year 2017.
Send Forms 1099 and 1096 to the IRS (see 31 January above). A separate 1096 is required for each separate type of 1099 type.

MARCH

March 15
Partnerships and S Corporations (including LLC’s operating as an S) must file their 2017 calendar-year income tax return (1120-S or 1065). This includes the K-1’s that accrue to each partner entity. If you want an automatic six-month extension, file Form 7004, and deposit what you estimate you owe. An extension does not absolve an entity from having paid the taxes due.

S corporation election. File Form 2553, Election by a Small Business Corporation, by this date to be treated as an S corp beginning with calendar-year 2018. If you miss this deadline, you will be stuck as a C entity (or a partnership) until calendar-year 2019.

Payroll tax deposits for February are due if you’re not on a semiweekly deposit schedule.

March 31
ONLY if you file electronically, send Forms 1098, 1099 or W-2G to the IRS. Otherwise, February 28 rules applied.

APRIL

April 18
Corporations (operating as C) must file 2017 calendar-year returns (Form 1120). For an automatic five-month extension, file Form 7004.

Corporations need to send in the first installment of 2018 estimated income tax.

Payroll tax deposits for March are due if you’re not on a semiweekly deposit schedule.

April 30

File Form 941 (payroll tax) for Q1-2018, plus any unpaid taxes. Also, deposit unemployment taxes for the first quarter of 2018 if you owe more than $500 in federal unemployment taxes (FUTA) for the year.

MAY

May 15

Original deadline for tax-exempt organizations, the filing of various different Forms 990.
Payroll tax deposits for April are due if you’re not on a semiweekly deposit schedule.

JUNE

June 15
Pay the second installment of your 2018 corporate estimated income tax.
Payroll tax deposits for May are due if you’re not on a semiweekly deposit schedule.

JULY

July 15
Payroll tax deposits for June are due if you’re not on a semiweekly deposit schedule.

July 31

File Form 941 (payroll tax) for Q2-2018, plus deposit any unpaid taxes. Deposit unemployment taxes for the second quarter of 2018 if you owe more than $500 in FUTA as of this date for the year.
If you maintain an employee pension, profit-sharing or stock bonus plan, file Form 5500 or 5500-EZ for calendar-year 2017.

AUGUST

August 15
Payroll taxes for July are due if you’re not on a semiweekly deposit schedule.

SEPTEMBER

September 17
Those pass-through entities who extended: Send in your 2017 calendar-year income tax return (Form 1120-S or Form 1065) and pay any tax due. Provide each partner with a copy of Schedule K-1 (Form 1065 and or 1120-S).
Pay the third installment of your 2016 estimated income tax.
Payroll taxes for August are due if you’re not on a semiweekly deposit schedule.

OCTOBER

October 15

Corporations who filed an extension form must now submit Forms 1120 and all taxes due.

Payroll tax deposits for September are due if you’re not on a semiweekly deposit schedule.

October  31
File Form 941 (payroll tax) for Q3-2018, plus submit unpaid taxes. Deposit unemployment tax for the third quarter of 2018 if you owe more than $500 in FUTA for the year.

NOVEMBER

November 15
Payroll tax deposits for October are due if you’re not on a semiweekly deposit schedule.

DECEMBER

December 15
Payroll tax deposits for November are due, if you are not on a semi-weekly deposit schedule.
Pay the fourth installment of your 2018 estimated income tax.