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Tax Calendar for 2014

We Help Clients Stay Ahead of Tax Filing Deadlines Tax Related Due Dates for 2014

JANUARY 15: Estimated Taxes

Final installment of estimated tax (Form 1040-ES) by individuals unless income tax return is filed with final payment by January 31st.

JANUARY 31: Employers’ Taxes.

Employers of nonagricultural and nonhousehold employees file return on Form 941 for withheld income and FICA taxes in last quarter of 2013.*

Employers must file Form 940, annual return of federal unemployment (FUTA) taxes.

Withholding.
Employees’ statements (Form W-2 and Form 1099-R) for amounts withheld in 2012 to be furnished by employer to employees.

Information Returns.
Annual statements must be furnished to recipients of dividends and liquidating distributions (Form 1099-DIV); interest, including interest on bearer certificates of deposit (Form 1099-INT); patronage dividends (Form 1099-PATR); original issue discount (Form 1099-OID); proceeds from broker and barter exchange transactions (Form1099-B); proceeds from real estate transactions (Form 1099-S); certain government payments, including unemployment compensation and state and local tax refunds of $10 or more (Form 1099-G); royalty payments of more than $10, rent or other business payments of more than $600, prizes and awards of more than $600, broker payments in lieu of dividends or tax-exempt interest of $10 or more, crop insurance proceeds of $600 or more, fishing boat proceeds, and medical and health care payments of $600 or more (Form 1099-MISC); debt canceled by certain financial entities including financial institutions, credit unions, and Federal Government agencies of $600 or more (Form 1099-C); distributions from retirement or profit-sharing plans, IRAs, SEPs, or insurance contracts (Form 1099-R).

Business recipients of more than $600 of interest on any mortgage must furnish Form 1098 to payer.

* If timely deposits in full payment of tax due were made, the due date for Forms 940, 941, and 943 is February 12th.

Information Returns
Annual 1099 series returns (together with transmittal Form 1096 for paper filings or Form 4804 for magnetic media filings) must be filed with the IRS to report payments to recipients who received Form 1099 on January 31, as indicated above.

Business recipients of more than $600 of interest from an individual on any mortgage must file Form 1098 with the IRS (together with transmittal Form 1096 for paper filings or Form 4804 for magnetic media filings).

Withholdings
Form W-2 “A” copies for 2014 (together with transmittal Form W-3) must be filed with the Social Security Administration.

Form W-2G and Form 1099-R for 2014“A” copies (together with transmittal Form 1096 for paper filings or Form 4804 for magnetic media filings) must be filed with the IRS.

MARCH 15:

Corporations:

Due date of 2013 income tax returns (Form 1120 or Form 1120-A) for calendar-year U.S. corporations or calendar-year foreign corporations with offices in the U.S. Fiscal-year U.S. corporations and foreign corporations with a U.S. office must file by the 15th day of the 3rd month following the close of the tax year.

Due date of 2013 income tax returns for calendar-year S corporations (Form 1120S). Last date for filing application (Form 7004) by calendar-year corporations for automatic six-month extension to file 2012 income tax return.

Calendar-year corporations’ 2013 information return (Form 5471) with respect to foreign corporations. (Fiscal-year corporations file form with income tax return).

APRIL 15 **

Individuals:
Income tax and self-employment tax returns of individuals for calendar year 2013 and income tax returns of calendar-year decedents who died in 2012. (Form 1040, Form 1040A, or Form 1040EZ). Fiscal-year individuals must file returns or requests for extension by the 15th day of the 4th month after the close of the tax year.

Last day for calendar-year individuals to file application (Form 4868) for Automatic six-month extension to file 2013 income tax return.

Estimated Tax
Using Form 8109, calendar-year corporations pay 25% of estimated tax if requirements are met before April 1, 2013 . Fiscal year corporations are to make payments on the 15th day of the 4th, 6th, 9th and 12th months of the tax year.

Payment of first installment of 2014 estimated income taxes by calendar-year individuals (other than farmers and fishermen) (Form 1040 ES). Estimated tax payments for fiscal-year individuals are due on the 15th day of the 4th, 6th, and 9th months of the fiscal year and the 1st month of the following fiscal year.

Trusts (and calendar-year estates and certain residuary trusts in existence more than two years) must make first payment of estimated taxes for 2013 (Form 1041-ES). Fiscal-year estates must make payments on the 15th day of the 4th, 6th, and 9th months of the fiscal year and the 1st month of the following fiscal year.

Trusts and Estates
Fiduciary income tax return (Form 1041) for calendar year 2013. (Fiscal-year estates must file by the 15th day of the 4th month following close of the tax year).

Last day for trusts to file application (Form 7004) for automatic six-month extension of time to file 2013 income tax return.

Partnerships:
Last day for filing income tax return (Form 1065) for calendar-year 2013. Returns for fiscal-year partnerships are due on the 15th day of the 4th month after the close of the tax year.

Last day for calendar-year U.S. partnerships to file application (Form 7004) for automatic five-month extension to file 2012 income tax return.

Last day for calendar-year partnership to file an amended return for 2013.

Information Returns
Annual information return (Form 1041-A) for split-interest trusts and complex trusts claiming charitable deductions under Code Sec. 642© and annual information return (Form 5227) for Code Sec. 4947(a)(2) trusts must be filed.

Employers’ Taxes
Employers of nonagricultural and nonhousehold employees must file return on Form 941 to report income tax withholding and FICA taxes for the first quarter of 2013.**

** If timely deposits in full payment of taxes due were made, the due date for Form 941 is May 10.

MAY 15:

Exempt Organizations
Annual information return (Form 990) for 2013 by calendar–year organizations exempt or claiming exemption from tax under Code Sec. 501 or Code Sec. 4947 (a)(1). Fiscal-year organizations must file by 15th day of 5th month after close of the tax year.

Calendar-year private foundations and Code Sec. 4947 (a) trusts treated as private foundations must file Form 990-PF, and private foundations must pay the first quarter installment of estimated excise tax on net investment or tax on unrelated business income. Fiscal-year organizations must file by 15th day of 5th month after close of tax year, for both Form 990-PF and estimated taxes referred to above.

Calendar-year Code Sec. 501(a) organizations with unrelated business income must file income tax return on Form 990-T. Fiscal-year organizations must file by 15th day of 5th month following close of tax year.

Corporations requesting an extension of time to file Form 990 may file Form 8868 for an automatic six-month extension. Other entities must file Form 2758 in time for it to be processed by the filing deadline to request a nonautomatic extension.

MAY 31:

Information Returns
Annual statement to IRS regarding 2013 account balances for an IRA or SEP (Form 5498). Participants and IRS must be provided with IRA plan contribution information.

JUNE 15:

Individuals:
Last day for nonresident alien individuals not subject to withholding to file income tax return for calendar year 2013.

Estimated Tax:
Calendar-year corporations must pay second installment of 2013 estimated tax.

Payment of second installment of 2014 estimated tax by individuals (other than farmers and fishermen), by trusts and by estates and certain residuary trusts in existence more than 2 years. Nonresident aliens who have no wages subject to U.S. withholding must make first payment (Form 1040 ES(NR)).

JULY 31:

Employers’ Taxes
Employers of nonagricultural and nonhousehold Employees must file return on Form 941 to report income tax withholding FICA taxes for the second quarter of 2014.***

***If timely deposits in full payment of taxes due were made, the due date for Form 941 is August 10.

Sept. 15th Estimated Tax
Payment of third installment of 2014 estimated tax by calendar-year corporations.

Payment of third installment of 2014 estimated tax by individuals (other than farmers and fishermen), by trusts and by estates and certain residuary trusts in existence more than 2 years.

Last day for filing 2012 income tax return by calendar-year corporations that obtained automatic six-month filing extension.

Last Day to filing 2013 Form 1065 income tax returns by calendar-year partnerships, who obtained the automatic five-month filing extension.

OCT. 15:

Last Day to filing 2013 income tax returns by calendar-year individuals, who obtained the automatic six-month filing extension.

Last Day to file 2013 Form 1041 income tax returns by calendar-year trusts, who obtained the automatic six-month filing extension.

OCT. 31:

Employers’ Taxes
Employers of nonagricultural and nonhousehold employees must file return on Form 941 to report income tax withholding and FICA taxes for the third quarter of 2014.

DEC. 15:

Estimated Tax
Payment of last installment of 2014 estimated tax by calendar-year corporations.