There’s no doubt you’re knee-deep in working on tax returns for your individual and business clients. Please don’t forget about this month’s important tax and compliance deadlines:
In March, it is recommended that you:
- File extensions for individuals who have not yet met your deadline for return preparation.
- Remind individual clients of their April 16 estimated tax payment.
- File extensions for S corporations or partnerships that will not meet the March 15 filing deadline.
Key Compliance Dates:
Friday, March 2 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 24-27.
Wednesday, March 7 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 28-March 2.
Friday, March 9 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 3-6.
Monday, March 12 – Tipped employees who received $20 or more in tips during February report them to the employer on Form 4070, Employee’s Report of Tips to Employer.
Wednesday, March 14 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 7-9.
Thursday, March 15:
- Monthly depositors deposit FICA and withheld income tax for February.
- Calendar-year S corporations file 2017 income tax return on Form 1120S, U.S. Income Tax Return for an S Corporation; alternatively, file for an automatic six-month extension.
- Calendar-year partnerships file 2017 information return (Form 1065, S. Return of Partnership Income); alternatively, file for an automatic six-month extension (Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns).
Friday, March 16 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 10-13.
Wednesday, March 21 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 14-16.
Friday, March 23 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 17-20.
Wednesday, March 28 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 21-23.
Friday, March 30 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 24-27.
Intuit® ProConnect™ Resources:
- The March 2018 Calendar with filing deadlines and reminders for you and your clients
- Key Tax Facts for 2017
- New Tax Developments for 2017 and Beyond
As always, visit Intuit ProConnect for more information and training resources.
