new tax season
new tax season

January 2018 Tax and Compliance Deadlines

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From everyone at Intuit® ProConnect™, we wish you a very happy New Year and the best in 2018! Welcome to our monthly roundup of important tax and compliance deadlines; here they are for your review:

In January, it is recommended that you:

  • Send tax preparation packets and tax data organizers to individual clients.
  • Alert individual clients to the option of filing the 2017 return by Jan. 31 in lieu of making a final 2017 estimated tax payment.
  • Remind business clients of information reporting

Key Compliance Dates:

In December, employees whose withholding status will change in 2018 should submit a new Form W-4 to their employer. The new form should be submitted as early as possible to guarantee implementation of the withholding change in January.

Thursday, Jan. 4 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 27-29.

Friday, Jan. 5 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 30-Jan 2.

Wednesday, Jan. 10

  • Tipped employees who received $20 or more in tips during December report them to the employer on Form 4070.
  • Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 3-5.

Friday, Jan. 12 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 6-9.

Tuesday, Jan. 16

  • Monthly depositors deposit FICA and withheld income tax for December.
  • Individuals pay final installment of 2017 estimated tax.

Thursday, Jan. 18 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 10-12.

Friday, Jan. 19 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 13-16.

Wednesday, Jan. 24 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 17-19.

Friday, Jan. 26 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 20-23.

Wednesday, Jan. 31

  • Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 24-26.
  • Employers file Form 941, Employer’s Quarterly Federal Tax Return, for the fourth quarter of 2017 (if tax is deposited in full and on time, file by Feb. 10).
  • Qualifying small employers file annual Form 944, Employer’s Annual Federal Tax Return, for 2017 (in lieu of quarterly Form 941s).
  • Employers file Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, for 2017 (if tax was deposited in full and on time, file by Feb. 10).
  • Furnish copies of Form W-2 for 2017 to employees.
  • Employers file Copy A of all Forms W-2 issued for 2017 with the Social Security Administration. Paper Forms W-2 should be accompanied by a Form W-3.
  • Furnish information returns to payees for payments made in 2017.
  • File information returns with the IRS for nonemployee compensation paid in 2017.
  • Individuals file individual income tax return for 2017 in lieu of Jan. 16 estimated tax payment.
  • File Form 945, Annual Return of Withheld Federal Income Tax, for 2017 to report income tax withheld on nonpayroll items.

Intuit ProConnect Resources:

As always, visit Intuit ProConnect for more information and training resources.

Dorinda DeScherer

Dorinda DeScherer is an attorney specializing in tax and employment law. She is an honors' graduate of Barnard College of Columbia University and the University of Maryland School of Law. She is currently a principal with Editorial Resource Group, where she specializes in writing and editing professional publications. More from Dorinda DeScherer

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