|
|
|
 |
General Tax Calendar |
| |
General Tax Calendar This
tax calendar has the due dates for 2008 that most taxpayers will need.
Employers and persons who pay excise taxes also should use the Employer’s Tax Calendar and the Excise Tax Calendar. Fiscal-year taxpayers. If
you file your income tax return for a fiscal year rather than the
calendar year, you must change some of the dates in this calendar.
These changes are described under Fiscal-Year Taxpayers at the end of this calendar. First Quarter The first quarter of a calendar year is made up of January, February, and March. January 10 Employees who work for tips. If
you received $20 or more in tips during December, report them to your
employer. You can use Form 4070, Employee’s Report of Tips to Employer.
January 15 Individuals. Make
a payment of your estimated tax for 2007 if you did not pay your income
tax for the year through withholding (or did not pay in enough tax that
way). Use Form 1040-ES. This is the final installment date for 2007
estimated tax. However, you do not have to make this payment if you
file your 2007 return (Form 1040) and pay any tax due by January 31,
2008. Farmers and fishermen. Pay
your estimated tax for 2007 using Form 1040-ES. You have until April 15
to file your 2007 income tax return (Form 1040). If you do not pay your
estimated tax by January 15, you must file your 2007 return and pay any
tax due by March 3, 2008, to avoid an estimated tax penalty. January 31 Individuals who must make estimated tax payments. If
you did not pay your last installment of estimated tax by January 15,
you may choose (but are not required) to file your income tax return
(Form 1040) for 2007 by January 31. Filing your return and paying any
tax due by January 31 prevents any penalty for late payment of the last
installment. If you cannot file and pay your tax by January 31, file
and pay your tax by April 15. All businesses. Give
annual information statements to recipients of certain payments you
made during 2007. You can use the appropriate version of Form 1099 or
other information return. Form 1099 can be issued electronically with
the consent of the recipient. Payments that may be covered include the
following. Cash payments for fish (or other aquatic life) purchased from anyone engaged in the trade or business of catching fish. - Compensation for workers who are not considered employees (including fishing boat proceeds to crew members).
- Dividends and other corporate distributions.
- Interest.
- Amounts paid in real estate transactions.
- Rent.
- Royalties.
- Amounts paid in broker and barter exchange transactions.
- Payments to attorneys.
- Payments of Indian gaming profits to tribal members.
- Profit-sharing distributions.
- Retirement plan distributions.
- Original issue discount.
- Prizes and awards.
- Medical and health care payments.
- Debt cancellation (treated as payment to debtor).
- Cash
payments over $10,000. See the instructions for Form 8300, Report of
Cash Payments Over $10,000 Received in a Trade or Business.
See
the 2007 General Instructions for Forms 1099, 1098, 5498, and W-2G for
information on what payments are covered, how much the payment must be
before a statement is required, which form to use, when to file, and
extensions of time to provide statements to the IRS. February 11 Employees who work for tips. If you received $20 or more in tips during January, report them to your employer. You can use Form 4070. February 15 Individuals. If
you claimed exemption from income tax withholding last year on the Form
W-4 you gave your employer, you must file a new Form W-4 by this date
to continue your exemption for another year. February 28 All businesses. File information returns (Form 1099) for certain payments you made during 2007. These payments are described under January 31. There
are different forms for different types of payments. Use a separate
Form 1096 to summarize and transmit the forms for each type of payment.
See the 2007 General Instructions for Forms 1099, 1098, 5498, and W-2G
for information on what payments are covered, how much the payment must
be before a return is required, which form to use, and extensions of
time to file. If you file Forms 1098, 1099, or W-2G electronically (not by magnetic media), your due date
for filing them with the IRS will be extended to March 31. The due date
for giving the recipient these forms remains January 31. March 3 Farmers and fishermen. File
your 2007 income tax return (Form 1040) and pay any tax due. However,
you have until April 15 to file if you paid your 2007 estimated tax by
January 15, 2008. March 10 Employees who work for tips. If you received $20 or more in tips during February, report them to your employer. You can use Form 4070. March 17 Corporations. File
a 2007 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, Application for Automatic 6-Month Extension
of Time To File Certain Business Income Tax, Information, and Other
Returns, and deposit what you estimate you owe. S corporations. File
a 2007 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, Deductions, Credits, 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. 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 2008. If Form
2553 is filed late, S treatment will begin with calendar year 2009. Electing large partnerships. 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 is effective for the first March 17
following the close of the partnership’s tax year. The due date of
March 17 applies even if the partnership requests an extension of time
to file the Form 1065-B by filing Form 7004. March 31 Electronic filing of Forms 1098, 1099, and W-2G. File
Forms 1098, 1099, or W-2G with the IRS. This due date applies only if
you file electronically (not by magnetic media). Otherwise, see February 28. The due date for giving the recipient these forms remains January 31. For
information about filing Forms 1098, 1099, or W-2G electronically, see
Publication 1220, Specifications for Filing Forms 1098, 1099, 5498 and
W-2G Electronically or Magnetically. Second Quarter The second quarter of a calendar year is made up of April, May, and June. April 10 Employees who work for tips. If you received $20 or more in tips during March, report them to your employer. You can use Form 4070. April 15 Individuals. File
a 2007 income tax return (Form 1040, 1040A, or 1040EZ) and pay any tax
due. If you want an automatic 6-month extension of time to file the
return, file Form 4868, Application for Automatic Extension of Time To
File U.S. Individual Income Tax Return, or you can get an extension by
phone or over the Internet. Then, file Form 1040, 1040A, or 1040EZ by
October 15. Household employers. If
you paid cash wages of $1,500 or more in 2007 to a household employee,
you must file Schedule H. If you are required to file a federal income
tax return (Form 1040), file Schedule H with the return and report any
household employment taxes. Report any federal unemployment (FUTA) tax
on Schedule H if you paid total cash wages of $1,000 or more in any
calendar quarter of 2006 or 2007 to household employees. Also, report
any income tax you withheld for your household employees. For more
information, see Publication 926. Individuals. If
you are not paying your 2008 income tax through withholding (or will
not pay in enough tax during the year that way), pay the first
installment of your 2008 estimated tax. Use Form 1040-ES. For more
information, see Publication 505. Partnerships. File
a 2007 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
Schedule K-1 or a substitute Schedule K-1, file Form 7004. Then, file
Form 1065 by October 15. Electing large partnerships. File
a 2007 calendar year return (Form 1065-B). If you want an automatic
6-month extension of time to file the return, file Form 7004. Then,
file Form 1065-B by October 15. See March 17 for the due date for furnishing Schedules K-1 or substitute Schedules K-1 to the partners. Corporations. Deposit
the first installment of estimated income tax for 2008. A worksheet,
Form 1120-W, is available to help you estimate your tax for the year. May 12 Employees who work for tips. If you received $20 or more in tips during April, report them to your employer. You can use Form 4070. June 10 Employees who work for tips. If you received $20 or more in tips during May, report them to your employer. You can use Form 4070. June 16 Individuals. If
you are a U.S. citizen or resident alien living and working (or on
military duty) outside the United States and Puerto Rico, file Form
1040 and pay any tax, interest, and penalties due. Otherwise, see April 15. If
you want additional time to file your return, file Form 4868 to obtain
4 additional months to file. Then, file Form 1040 by October 15. However,
if you are a participant in a combat zone, you may be able to further
extend the filing deadline. See Publication 3, Armed Forces’ Tax Guide.
Individuals. Make
a payment of your 2008 estimated tax if you are not paying your income
tax for the year through withholding (or will not pay in enough tax
that way). Use Form 1040-ES. This is the second installment date for
estimated tax in 2008. For more information, see Publication 505. Corporations. Deposit
the second installment of estimated income tax for 2008. A worksheet,
Form 1120-W, is available to help you estimate your tax for the year. Third Quarter The third quarter of a calendar year is made up of July, August, and September. July 10 Employees who work for tips. If you received $20 or more in tips during June, report them to your employer. You can use Form 4070. August 11 Employees who work for tips. If you received $20 or more in tips during July, report them to your employer. You can use Form 4070. September 10 Employees who work for tips. If you received $20 or more in tips during August, report them to your employer. You can use Form 4070. September 15 Individuals. Make
a payment of your 2008 estimated tax if you are not paying your income
tax for the year through withholding (or will not pay in enough tax
that way). Use Form 1040-ES. This is the third installment date for
estimated tax in 2008. For more information, see Publication 505. Corporations. File a 2007 calendar year income tax return (Form 1120 or 1120-A) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic 6-month extension. Otherwise, see March 17. S corporations. File
a 2007 calendar year income tax return (Form 1120S) and pay any tax
due. This due date applies only if you timely requested an automatic
6-month extension. Otherwise, see March 17. Provide each shareholder with a copy of Schedule K-1 (Form 1120S) or a substitute Schedule K-1. Corporations. Deposit
the third installment of estimated income tax for 2008. A worksheet,
Form 1120-W, is available to help you estimate your tax for the year. Fourth Quarter The fourth quarter of a calendar year is made up of October, November, and December. October 10 Employees who work for tips. If you received $20 or more in tips during September, report them to your employer. You can use Form 4070. October 15 Individuals. If
you have an automatic 6-month extension to file your income tax return
for 2007, file Form 1040, 1040A, or 1040EZ and pay any tax, interest,
and penalties due. Partnerships. File
a 2007 calendar year return (Form 1065). This due date applies only if
you were given an additional 6-month extension. Provide each partner
with a copy of Schedule K-1 (Form 1065) or a substitute Schedule K-1. Electing large partnerships. File
a 2007 calendar year return (Form 1065-B). This due date applies only
if you were given an additional 6-month extension. See March 17 for the due date for furnishing Schedules K-1 or substitute Schedules K-1 to the partners. November 10 Employees who work for tips. If you received $20 or more in tips during October, report them to your employer. You can use Form 4070. December 10 Employees who work for tips. If you received $20 or more in tips during November, report them to your employer. You can use Form 4070. December 15 Corporations. Deposit
the fourth installment of estimated income tax for 2008. A worksheet,
Form 1120-W, is available to help you estimate your tax for the year. |
|
|
|
|
|
