Jan. 16Estimated tax payment. Your fourth quarter estimated tax payment (using form 1040-ES) for the previous year is due.
Jan. 31W-2 and 1099 forms. Employers are required to furnish employees and contractors Form W-2 or Form 1099. The forms need to be postmarked by Jan 31. For example a contractor should receive a Form 1099-Misc.
Tax return due. If you missed your fourth-quarter estimated tax deadline on Jan. 16, you can still avoid a penalty if you file your tax return by this date and pay any tax due.
W-2 and 1099 forms. File all original Copy A Form W-2 copies with the Social Security Admin. File all original types of information returns Form 1099 with the IRS.
March 15Corporations. File a 2007 calendar year income-tax return (Form 1120 or 1120-A) and pay any tax due. You can apply for an automatic six-month extension with Form 7004, Application for Automatic Extension. If you file for an extension, you must also make an estimated tax payment.
S corporations. File a 2007 calendar-year tax return (Form 1120S) and pay any tax due by March 15th by depositing the amount due with a deposit coupon to your local bank. Give each S corp shareholder a copy of Schedule K-1 (Form 1120S). You can also apply for an automatic six-month extension with Form 7004, but any tax due must be paid by March 15th. Extensions are only to delay the paperwork.
S corporation election. The Form 2553 must be filed 75 days after the beginning of your corporation in order to elect to be treated as an S corporation. For years beginning with calendar year 2007, March 15th is the deadline. Filing the Form 2553 late may delay the IRS accepting the election until the with calendar year 2008.
April 15Individual Tax return filing due date. Your individual income-tax return imust be postmarked by April 15th, unless you file for an extension until Oct. 15. Note: If the April 15 required deadline for income tax filing falls on a Sat or Sunday, then the tax filing deadline is the next business day.
File for tax extension. If you want an automatic extension of time to file your tax return, then file Form 4868 which gives you until Oct. 15 to file your individual tax return. To avoid a penalties and interest, pay any income tax due by April 15.
Individual retirement accounts or Roth IRAs. This is the final deadline for making contributions to IRAs or Roth IRAs each year. Extension are not allowed for making contributions. This also is the deadline to open these retirement accounts and then the deposit could be made the same day..
Estimated tax payment. The first quarter estimated tax payment for for the current year is due. Send your payment to the IRS with an estimated tax coupon Form 1040-ES or sign up for an online electronic draft.
Individual State tax returns. If you are required to file a state tax return, it is either due on the 15th or the 30th.Most states automatically extend the filing deadline to coincide with any federal extension filing.
Household employers. If you paid cash wages of $1,500 or more to a household employee, file Schedule H (Form 1040) with your income-tax return and report any employment taxes by April 15..
Partnerships. Give each partner with a copy of Schedule K-1 Form 1065. Returns are due by April 15th even if an extension is filed.
June 15Filing deadline. If you are a U.S. citizen or resident alien living and working (or on military duty) outside the U.S. and Puerto Rico, file Form 1040 and pay any tax, interest and penalties due. You can file for a 6 month tax extension until Oct. 15.
Estimated taxes due. File your second quarter estimated tax payment (using Form 1040-ES).
Sept. 15Estimated tax due. File your third quarter estimated tax payment (using Form 1040-ES).
Simple plan deadline. This is the last date to set up a Simple IRA plan for your small business in order to deduct contributions for the current year.
Oct. 15Income tax return due. Your yearly income tax return is due if you filed a 6 month extension request using Form 4868.
Dec. 31Deduction deadline. This is the last date to make payments that can be deducted from your 2007 tax return.
Keogh plan deadline. The last date to set up a Keogh plan so you can make a Keogh contribution before filing your tax return.