The Internal Revenue Service (IRS) will begin accepting tax returns today! Are you ready?
Remember that filing electronically and requesting direct deposit is the quickest way to get your tax refund!
Employers this is a big day for you. Depending on your business you may have a number of tax forms due:
Form 941 for all 4th quarter social security, Medicare and tax withheld
Form 944 for those who pay social security, Medicare and withholding taxes annually
Form 940 to pay your unemployment tax (be sure you’ve filed your state unemployment tax first to maximize the reduction in federal unemployment due!)
Annual information statements must be in the mail! This means those 1099s and W2s!
Don’t forget to also check with your state and local taxing authorities as those forms and payments may also be due!
Copy of Form W2 is due to the state unless your employee lives in:
Alaska
California
Florida
Iowa
Nevada
New Hampshire
New York
Oklahoma
South Dakota
Tennessee
Texas
Washington
Wyoming
The time has come! It is officially tax day!
Try not to procrastinate! Get your return filed now and receive your refund sooner. If you have a payment due, file now and pay by July 15!
Returns are due for all of the following:
C-Corporations operating on a calendar year (IRS Form 1120)
Gift tax returns (IRS Form 709)
Estate and trust income tax returns (IRS Form 1041)
Individual tax returns (IRS Form 1040)
Extensions are available, moving the deadline to file to October 15, 2020. Remember, this is not an extension to pay and you will need to remit any estimated tax liability by the original due date to avoid penalties and interest!
Your second estimated tax payment is due today!
This tax payment covers the period from April 1, 2020 - May 31, 2020.
Required to make estimated tax payments?
Your first payment is due today!
Time to file those S-Corporation returns!
No payment is generally due with these returns as any profit or loss is passed through to the managing members. If you need to file an extension, this will give you until September 15, 2020.
Don’t forget to also distribute Form K-1 as well!
For all partnerships, your Form 1065’s are due today!
If you need to file an extension, you will have until September 15, 2020.
