March 22, 2018
April 2 - Electronic Filing of Forms 1098, 1099 and W-2G
If you file Forms 1098, 1099 (other than 1099-MISC withan amount in box 7), or W-2G electronically with the IRS, this is the final due date. This due date applies only if you file electronically (not paper forms). Otherwise, January 31 or February 28 was the due date, depending on the form filed. The due date for giving the recipient these forms was January 31.
April 2 - Large Food and Beverage Establishment Employers
If you file Forms 8027 for 2017 electronically with the IRS, this is the final due date. This due date applies only if you file electronically. Otherwise, February 28 was the due date.
April 17 - Household Employer Return Due
If you paid cash wages of $2,000 or more in 2017 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 2016 or 2017 to household employees. Also, report any income tax that was withheld for your household employees. For more information, please call this office.
April 17 - C-Corporations
File a 2017 calendar year income tax return (Form 1120 or 1120-A) and pay any tax due. If you need an automatic 6 -month extension of time to file the return, file Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information and Other Returns, and deposit what you estimate you owe. Filing this extension protects you from late filing penalties but not late payment penalties, so it is important that you estimate your liability and deposit it using the instructions on Form 7004.
April 17 - Social Security, Medicare and Withheld Income Tax
If the monthly deposit rule applies, deposit the tax for payments in March.
April 17 - C-Corporations
The first installment of 2018 estimated tax of a calendar year corporation is due.
April 17 - Partnerships
Last day file 2017 calendar year fiduciary return or file an extension.
Beginning in 2014, the Affordable Care Act, also known as Obamacare, imposed what a “share-responsibility payment” on taxpayers who did not sign up for minimum essential health coverage. This payment is essentially a penalty for not being insured.
If you trade cryptocurrencies like Bitcoin you are required to report the transactions for tax purposes.
The IRS wants its cut and you may not know it. Call our office for assistance. Learn more in the video below.
Just a reminder that the due date for 2017 tax returns is April 17, 2018! There is no penalty for filing late if you are receiving a refund. However, it is quite a different story...