Knowing when and what you have to file can save you a lot of headaches at tax time. To avoid paying penalties, mark your calendar with the following key dates.
January 18, 2011
4th Quarter 2010 Estimated Tax Payment Due
If you are self-employed or have other fourth-quarter income that requires you to pay quarterly estimated taxes, get them postmarked by January 18, 2011. (January 15, 2011 is a Saturday and the following Monday is a federal holiday.)
By February 1, 2011
Employers - Give your employees their copies of Form W-2 for 2010 by February 1, 2011. If an employee agreed to receive Form W-2 electronically, post it on a website accessible to the employee and notify the employee of the posting by February 1.
March 1, 2011
Employers - File Form W-3, Transmittal of Wage and Tax Statements, along with Copy A of all the Forms W-2 you issued for 2010.
March 15, 2011
Corporations - File a 2010 calendar year income tax return (Form 1120 or 1120-A) 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.
S Corporations - File a 2010 calendar year income tax return (Form 1120S) and pay any tax due. Provide each shareholder with a copy of Schedule K-1 (Form 1120S), Shareholder's Share of Income, Credits, Deductions, etc., or a substitute Schedule K-1. If you want an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe.
April 18, 2011
Individual Tax Returns Due for Tax Year 2010
If you haven't applied for an extension, e-file or postmark your individual tax returns by midnight April 18, 2010.
Individual Tax Return Extension Form Due for Tax Year 2010
Need more time to prepare your tax return? File your request for an extension by April 18 to push your deadline back to October 17, 2011.
LLCs/Partnerships – File 2010 calendar year income tax return (Form 1065). Provide each shareholder with a copy of Schedule K-1 (Partner's Share of Income, Credits, Deductions, etc. If you want and automatic 5-month extension of time to file the return, file Form 7004.
1st Quarter 2011 Estimated Tax Payment Due
If you are self-employed or have other first-quarter income that requires you to pay quarterly estimated taxes, get your Form 1040-ES postmarked by April 18, 2011.
Last Day to make a 2010 IRA Contribution
If you haven't already funded your retirement account for 2010, do so by April 18, 2011. That's the deadline for a contribution to a traditional IRA, deductible or not, and a Roth IRA. However, if you have a Keogh or SEP and you get a filing extension to October 17, 2011, you can wait until then to put 2010 money into those accounts.
June 15, 2011
2nd Quarter 2011 Estimated Tax Payment Due
If you are self-employed or have other second-quarter income that requires you to pay quarterly estimated taxes, make sure your payment is postmarked by June 15, 2011.
July 15,2011
For my clients, first extenstion for personal tax returns due.
September 15, 2011
3rd Quarter 2011 Estimated Tax Payment Due
If you are self-employed or have other third-quarter income that requires you to pay quarterly estimated taxes, make sure your third quarter payment is postmarked by Sept. 15, 2011.
October 17, 2011
Extended Individual Tax Returns Due
If you got a filing extension on your 2010 tax return, you need to get it completed and postmarked by October 17, 2011.
Last Chance to Recharacterize 2010 Roth IRA Conversion
If you converted a traditional IRA to a Roth during 2010 and paid tax on the conversion with your 2010 return, October 17, 2011 is the deadline for recharacterizing (undoing) the conversion. Doing so could save you money if the IRA has lost money since the time of the original conversion.
December 28, 2011
Fourth quarter 2011 estimated state tax payments for individuals must be paid
January 17, 2012
4th Quarter 2011 Estimated Tax Payment Due
If you are self-employed or have other fourth-quarter income that requires you to pay quarterly estimated taxes, get them postmarked by January 17, 2012. (January 15, 2012 is a Sunday and the following Monday is a federal holiday.)
Please
contact us to learn more about our tax preparation service.
