Important Dates on the Tax Calendar

Westchester accountant Paul Herman of Herman & Company CPA’s has all the answers to your personal finance questions!

Don’t let tax season take you by surprise this year!

Take note of these important dates on the tax calendar to help keep you organized during the upcoming tax season.

January 15

• Individual taxpayers’ final 2013 estimated tax payment is due unless Form 1040 is filed by January 31, 2014, and any tax due is paid with the return.

January 31

• Most employers must file Form 941 (Employer’s Quarterly Federal Tax Return) to report Medicare, Social Security, and income taxes withheld in the fourth quarter of 2013. (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 10 to file the return.
• Give your employees their copies of Form W-2 for 2013. If an employee agreed to receive Form W-2 electronically, have it posted on the website and notify the employee. Give annual information statements to recipients of certain payments you made during 2013. You can use the appropriate version of Form 1099 or other information return. Form 1099 can be filed electronically with the consent of the recipient.
• File Form 940 [Employer’s Annual Federal Unemployment (FUTA) Tax Return] for 2013. If your undeposited tax is $500 or less, you can either pay it with your return or deposit it. If it is 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 10 to file the return.
• File Form 945 (Annual Return of Withheld Federal Income Tax) for 2013 to report income tax withheld on all nonpayroll items, including backup withholding and withholding on pensions, annuities, IRAs, etc. 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 10 to file the return. File Form 943 (Employer’s Annual Federal Tax Return for Agricultural Employees) to report Social Security and Medicare taxes and withheld income tax for 2013. 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 10 to file the return.

February 28

• The government’s copy of Form 1099 series returns (along with the appropriate transmittal form) should be sent in by today. However, if these forms will be filed electronically, the due date is extended to March 31.
• The government’s copy of Form W-2 series returns (along with the transmittal Form W-3)

Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions about these provisions or any other tax compliance/planning issues, and to receive your free personal finance consultation!

Herman and Company CPA’s proudly serves Mamaroneck NY, Pound Ridge NY, Tarrytown NY, White Plains NY, Bronxville NY, Scarsdale NY, Greenwich CT and beyond.

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