2018 Q1 Tax Calendar

Key tax deadlines for businesses and other employers

Q1 tax planningHere are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact Nick Leacoma, CPA, Ciuni & Panichi, Inc. Tax Department senior manager, at 216.831.7171 or by email at nleacoma@cp-advisors.com to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. January 31

  • File 2017 Forms W-2, “Wage and Tax Statement,” with the Social Security  Administration and provide copies to your employees.
  • Provide copies of 2017 Forms 1099-MISC, “Miscellaneous Income,” to recipients of  income from your business where required.
  • File 2017 Forms 1099-MISC reporting nonemployee compensation payments in Box 7  with the IRS.
  • File Form 940, “Employer’s Annual Federal Unemployment (FUTA) Tax Return,” for  2017. If your un-deposited tax is $500 or less, you can either pay it with your return or  deposit it. If it’s more than $500, you must deposit it. However, if you deposited the tax  for the year in full and on time, you have until February 12 to file the return.
  • File Form 941, “Employer’s Quarterly Federal Tax Return,” to report Medicare, Social  Security and income taxes withheld in the fourth quarter of 2017. If your tax liability is  less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax  for the quarter in full and on time, you have until February 12 to file the return.  (Employers that have an estimated annual employment tax liability of $1,000 or less may  be eligible to file Form 944,“Employer’s Annual Federal Tax Return.”)
  • File Form 945, “Annual Return of Withheld Federal Income Tax,” for 2017 to report  income tax withheld on all non-payroll items, including backup withholding and  withholding on accounts such as pensions, annuities and IRAs. If your tax liability is less  than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for  the year in full and on time, you have until February 12 to file the return.

February 28

  • File 2017 Forms 1099-MISC with the IRS if 1) they’re not required to be filed earlier and  2) you’re filing paper copies. (Otherwise, the filing deadline is April 2.)

March 15

  • If a calendar-year partnership or S corporation, file or extend your 2017 tax return and  pay any tax due. If the return isn’t extended, this is also the last day to make 2017  contributions to pension and profit-sharing plans.

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