January 2012

Major Tax Deadlines for January 2012

1/1/2012 -

January 17 - Final 2011 individual estimated tax payment is due, unless 2011 tax return is filed and taxes are paid in full by January 31, 2012.
 
January 31 - Employers must provide 2011 W-2 statements to employees.
 
January 31 - Payers must provide 2011 Form 1099s to payees. (Brokers have until February 15 to provide Form 1099-B and consolidated statements to customers.) 
 
January 31 - Employers must generally file Form 941 for the fourth quarter of 2011 and pay any tax due.
 
January 31 - Employers must generally file 2011 federal unemployment tax returns and pay any tax due.
 
NOTE: Businesses are required to make federal tax deposits on dates determined by various factors that differ from business to business.

Payroll tax deposits: Employers generally must deposit Form 941 payroll taxes (income tax withheld from employees' pay and both the employer's and employees' share of social security taxes) on either a monthly or semiweekly deposit schedule. There are exceptions if you owe $100,000 or more on any day during a deposit period, if you owe $2,500 or less for the calendar quarter, or if your estimated annual liability is $1,000 or less.

* Monthly depositors are required to deposit payroll taxes accumulated within a calendar month by the fifteenth of the following month.

* Semiweekly depositors generally must deposit payroll taxes on Wednesdays or Fridays, depending on when wages are paid.

For more information on tax deadlines that apply to you or your business, contact our office.