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Employer's tax calendar
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January 19, 2001: 9:03 a.m. ET
Here are important tax dates for business people to remember in 2001
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NEW YORK (CNNfn) - This calendar, provided by the Internet Revenue Service, highlights the most important upcoming deadlines for employers who pay their taxes on either a fiscal-year or calendar-year basis.
It covers the following three federal taxes: Income tax that you withhold from your employees' wages or from nonpayroll amounts you pay out; Social Security and Medicare taxes (FICA taxes) that you withhold from your employees' wages and those you must pay as an employer; and federal unemployment (FUTA) tax that you must pay as an employer.
January
During January - All employers. Give your employees their copies of Form W-2 for 2000 as soon as possible. The due date is January 31.
January 31 - All businesses. Give annual information statements to recipients of certain payments you made during 2000. (You can use the appropriate version of Form 1099 or other information return.) Payments that are covered include the following.
- Compensation for workers who are not considered employees (including fishing boat proceeds to crew members).
- Dividends and other corporate distributions.
- Interest.
- Amounts paid in real estate transactions.
- Rent.
- Royalties.
- Amounts paid in broker and barter exchange transactions.
- Payments to attorneys.
- Payments of Indian gaming profits to tribal members.
- Profit-sharing distributions.
- Retirement plan distributions.
- Original issue discount.
- Prizes and awards.
- Medical and health care payments.
- Debt cancellation (treated as payment to debtor).
- Cash payments over $10,000. (See the instructions for Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business.)
See the 2000 Instructions for Forms 1099, 1098, 5498 and W-2G for information on what payments are covered, how much the payment must be before a statement is required, which form to use, and extension of time to provide statements.
All employers. Give your employees their copies of Form W-2 for 2000.
Payers of gambling winnings. If you either paid reportable gambling winnings or withheld income tax from gambling winnings, give the winners their copies of Form W-2G.
Nonpayroll taxes. File Form 945 to report income tax withheld for 2000 on all nonpayroll items, including backup withholding and withholding on pensions, annuities, IRAs, gambling winnings and payments of Indian gaming profits to tribal members. Deposit any undeposited tax. (If the total is less than $1,000 and not a shortfall, you can pay it with the return.) If you deposited the tax for the year in full and on time, you have until February 12 to file the return.
Social Security, Medicare and withheld income tax. File Form 941 for the fourth quarter of 2000. Deposit any undeposited tax. (If the total is less than $1,000 and not a shortfall, you can pay it with the return.) If you deposited the tax for the quarter in full and on time, you have until February 12 to file the return.
Farm employers. File Form 943 to report Social Security and Medicare taxes and withheld income tax for 2000. Deposit any undeposited tax. (If the total is less than $1,000 and not a shortfall, you can pay it with the return.) If you deposited the tax for the year in full and on time, you have until February 12 to file the return.
Federal unemployment tax. File Form 940 (or 940-EZ) for 2000. If your undeposited tax is $100 or less, you can either pay it with your return or deposit it. If it is more than $100, you must deposit it. However, if you already deposited the tax for the year in full and on time, you have until February 12 to file the return.
February
February 12 - Nonpayroll taxes. File Form 945 to report income tax withheld for 2000 on all nonpayroll items. This due date applies only if you deposited the tax for the year in full and on time.
Social Security, Medicare and withheld income tax. File Form 941 for the fourth quarter of 2000. This due date applies only if you deposited the tax for the quarter in full and on time.
Farm employers. File Form 943 to report Social Security, Medicare and withheld income tax for 2000. This due date applies only if you deposited the tax for the year in full and on time.
Federal unemployment tax. File Form 940 (or 940-EZ) for 2000. This due date applies only if you deposited the tax for the year in full and on time.
February 15 - Social Security, Medicare and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in January.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in January.
February 16 - All employers. Begin withholding income tax from the pay of any employee who claimed exemption from withholding in 2000, but did not give you a new Form W-4 to continue the exemption this year.
February 28 - All businesses. File information returns (Form 1099) for certain payments you made during 2000. These payments are described under January 31. There are different forms for different types of payments. Use a separate Form 1096 to summarize and transmit the forms for each type of payment. See the 2000 Instructions for Forms 1099, 1098, 5498 and W-2G for information on what payments are covered, how much the payment must be before a return is required, what form to use and extensions of time to file.
If you file Forms 1098, 1099 or W-2G electronically (not by magnetic media), your due date for filing them with the IRS will be extended to April 2. The due date for giving the recipient these forms will still be January 31.
Payers of gambling winnings. File Form 1096, Annual Summary and Transmittal of U.S. Information Returns, along with Copy A of all the Forms W-2G you issued for 2000.
If you file Forms W-2G electronically (not by magnetic media), your due date for filing them with the IRS will be extended to April 2. The due date for giving the recipient these forms will still be January 31.
All employers. File Form W-3, Transmittal of Wage and Tax Statements, along with Copy A of all the Forms W-2 you issued for 2000.
If you file Forms W-2 electronically (not by magnetic media), your due date for filing them with the SSA will be extended to April 2. The due date for giving the recipient these forms will still be January 31.
Large food and beverage establishment employers. File Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips. Use Form 8027-T, Transmittal of Employer's Annual Information Return of Tip Income and Allocated Tips, to summarize and transmit Forms 8027 if you have more than one establishment.
March
March 1 - Farmers and fishermen. File your 2000 income tax return (Form 1040) to avoid an underpayment penalty if you owe estimated tax. However, you have until April 16 to file if you paid your 2000 estimated tax by January 16, 2001.
March 15 - Corporations. File a 2000 calendar year income tax return (Form 1120 or 1120-A) and pay any tax due. If you want an automatic six-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe.
S corporations. File a 2000 calendar year income tax return (Form 1120S) and pay any tax due. Provide each shareholder with a copy of Schedule K-1 (Form 1120S), Shareholder's Share of Income, Credits, Deductions, etc., or a substitute Schedule K-1. If you want an automatic six-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe.
S corporation election. File Form 2553, Election by a Small Business Corporation, to choose to be treated as an S corporation beginning with calendar year 2001. If Form 2553 is filed late, S treatment will begin with calendar year 2002.
Electing large partnerships. Provide each partner with a copy of Schedule K-1 (Form 1065-B), Partner's Share of Income (Loss) From an Electing Large Partnership. This due date is effective for the first March 15 following the close of the partnership's tax year. The due date of March 15 applies even if the partnership requests an extension of time to file the Form 1065-B by filing Form 8736 or Form 8800.
Social Security, Medicare and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in February.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in February.
April
April 2 - Electronic filing of Forms 1098, 1099 and W-2G. File Forms 1098, 1099 or W-2G with the IRS. This due date applies only if you file electronically (not by magnetic media). Otherwise, see February 28.
The due date for giving the recipient these forms will still be January 31.
For information about filing Forms 1098, 1099, or W-2G electronically, see Publication 1220, Specifications for Filing Forms 1098, 1099, 5498 and W-2G Magnetically or Electronically.
Electronic filing of Forms W-2. File copy A of all the Forms W-2 you issued for 2000. This due date applies only if you electronically file (not by magnetic media). Otherwise, see February 28.
The due date for giving the recipient these forms will still be January 31.
Electronic filing of Forms W-2G. File copies of all the Forms W-2G you issued for 2000. This due date applies only if you electronically file (not by magnetic media). Otherwise, see February 28.
The due date for giving the recipient these forms will still be January 31.
For information about filing Forms W-2G electronically, see Publication 1220, Specifications for Filing Forms 1098, 1099, 5498 and W-2G Magnetically or Electronically.
April 16 - Partnerships. File a 2000 calendar year return (Form 1065). Provide each partner with a copy of Schedule K-1 (Form 1065), Partner's Share of Income, Credits, Deductions, etc., or a substitute Schedule K-1. If you want an automatic three-month extension of time to file the return and provide Schedule K-1, file Form 8736. Then file Form 1065 by July 16. If you need an additional three-month extension, file Form 8800.
Electing large partnerships. File a 2000 calendar year return (Form 1065-B). If you want an automatic three-month extension of time to file the return, file Form 8736. Then file Form 1065-B by July 16. If you need an additional three-month extension, file Form 8800. See March 15 for the due date for furnishing the Schedules K-1 to the partners.
Corporations. Deposit the first installment of estimated income tax for 2001. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.
Social Security, Medicare and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in March.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in March.
April 30 - Social Security, Medicare and withheld income tax. File Form 941 for the first quarter of 2001. Deposit any undeposited tax. (If the total is less than $1,000 and not a shortfall, you can pay it with the return.) If you deposited the tax for the quarter in full and on time, you have until May 10 to file the return.
Federal unemployment tax. Deposit the tax owed through March, if more than $100.
May
May 10 - Social Security, Medicare and withheld income tax. File Form 941 for the first quarter of 2001. This due date applies only if you deposited the tax for the quarter in full and on time.
May 15 - Social Security, Medicare and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in April.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in April.
June
June 15 - Corporations. Deposit the second installment of estimated income tax for 2001. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.
Social Security, Medicare and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in May.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in May.
July
July 16 - Partnerships. File a 2000 calendar year return (Form 1065). This due date applies only if you were given an automatic three-month extension. Provide each partner with a copy of Schedule K-1 (Form 1065), or a substitute K-1. If you need an additional three-month extension, file Form 8800.
Electing large partnerships. File a 2000 calendar year return (Form 1065-B). This due date applies only if you were given an automatic three-month extension. If you need an additional three-month extension, file Form 8800. See March 15 for the due date for furnishing the Schedules K-1 to the partners.
Social Security, Medicare and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in June.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in June.
July 31 - Social Security, Medicare and withheld income tax. File Form 941 for the second quarter of 2001. Deposit any undeposited tax. (If the total is less than $1,000 and not a shortfall, you can pay it with the return.) If you deposited the tax for the quarter in full and on time, you have until August 10 to file the return.
Federal unemployment tax. Deposit the tax owed through June if more than $100.
All employers. If you maintain an employee benefit plan -- such as a pension, profit-sharing, or stock bonus plan -- file Form 5500 or 5500-EZ for calendar year 2000. If you use a fiscal year as your plan year, file the form by the last day of the seventh month after the plan year ends.
August
August 10 - Social Security, Medicare and withheld income tax. File Form 941 for the second quarter of 2001. This due date applies only if you deposited the tax for the quarter in full and on time.
August 15 - Social Security, Medicare and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in July.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in July.
September
September 17 - Corporations. File a 2000 calendar year income tax return (Form 1120 or 1120-A) and pay any tax due. This due date applies only if you timely requested an automatic six-month extension. Otherwise, see March 15.
S corporations. File a 2000 calendar year income tax return (Form 1120S) and pay any tax due. This due date applies only if you timely requested an automatic six-month extension. Otherwise, see March 15. Provide each shareholder with a copy of Schedule K-1 (Form 1120S), or a substitute Schedule K-1.
Corporations. Deposit the third installment of estimated income tax for 2001. A worksheet, Form 1120-W, is available to help you make an estimate of your tax for the year.
Social Security, Medicare and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in August.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in August.
October
October 15 - Partnerships. File a 2000 calendar year return (Form 1065). This due date applies only if you were given an additional three-month extension. Provide each partner with a copy of Schedule K-1 (Form 1065), or a substitute K-1.
Electing large partnerships. File a 2000 calendar year return (Form 1065-B). This due date applies only if you were given an additional 3-month extension. See March 15 for the due date for furnishing the Schedules K-1 to the partners.
Social Security, Medicare and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in September.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in September.
October 31 - Social Security, Medicare and withheld income tax. File Form 941 for the third quarter of 2001. Deposit any undeposited tax. (If the total is less than $1,000 and not a shortfall, you can pay it with the return.) If you deposited the tax for the quarter in full and on time, you have until November 13 to file the return.
Federal unemployment tax. Deposit the tax owed through September, if more than $100.
November
During November - Income tax withholding. Ask employees whose withholding allowances will be different in the year 2002 to fill out a new Form W-4.
Earned income credit. Request each eligible employee who wants to receive advance payments of the earned income credit during the year 2002 to fill out a Form W-5. A new Form W-5 must be filled out each year before any payments are made.
November 13 - Social Security, Medicare and withheld income tax. File Form 941 for the third quarter of 2001. This due date applies only if you deposited the tax for the quarter in full and on time.
November 15 - Social Security, Medicare and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in October.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in October.
December
December 17 - Corporations. Deposit the fourth installment of estimated income tax for 2001. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.
Social Security, Medicare and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in November.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in November 
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