January 31

Tax Deadline3

16 Jan January 31

All Businesses: Give annual information statements (IRS Forms 1099) to recipients of certain payments you made during 2017. Payments that are covered include the following: compensation for workers who are not considered employees; dividends and other corporate distributions; interest; rents; royalties; profit-sharing distributions; retirement plan distributions; original issue discounts; prizes and awards; medical and health care payments; payments of Indian gaming profits to tribal members; debt cancellations (treated as payment to debtor); and cash payments more than $10,000. There are different forms for different types of payments.

Employers: Give your employees their copies of IRS Form W-2 for 2017. If an employee agreed to receive their IRS Form W­2 electronically, have it posted on a website and notify the employee of the posting.

For non-payroll taxes, file IRS Form 945 to report income tax withheld for 2017 on all non-payroll items, such as backup withholding and withholding on pensions, annuities, and individual retirement accounts. Deposit or pay any undeposited tax. 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.

For Social Security, Medicare, and withheld income tax, file IRS Form 941 for the fourth quarter of 2017. Deposit and pay any undeposited tax. 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.

For federal unemployment tax, file IRS Form 940 for 2017. 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 already deposited the tax for the year in full and on time, you have until February 12 to file the return.

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