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Weekends & Holidays:
If a due date falls on a Saturday, Sunday or holiday, the due date is automatically extended until the next business day that is not itself a legal holiday.

February

2 1099s Due To Service Providers
If you are a business or rental property owner and paid $600 or more for the services of individuals (other than employees) during a tax year, you are required to provide Form 1099 to those workers by February 2nd. "Services" can mean everything from labor, professional fees and materials, to rents on property. In order to avoid a penalty, copies of the 1099s need to be sent to the IRS by March 2, 2015 (March 31, 2015 if filed electronically). They must be submitted on optically scannable (OCR) forms. This firm prepares 1099s in OCR format for submission to the IRS with the 1096 submittal form. This service provides both recipient and file copies for your records. Please call this office for preparation assistance.

Payments that may be covered include the following:

• Cash payments for fish (or other aquatic life) purchased from anyone engaged in the trade or business of catching fish

• 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
2 W-2 Due to All Employees
All employers need to give copies of the W-2 form for 2014 to their employees. If an employee agreed to receive their W-2 form electronically, post it on a website and notify the employee of the posting.
2 File Form 941 and Deposit Any Undeposited Tax
File Form 941 for the fourth quarter of 2014. Deposit any undeposited Social Security, Medicare and withheld income 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 quarter in full and on time, you have until February 10 to file the return.
2 File Form 943
All farm employers should file Form 943 to report Social Security, Medicare taxes and withheld income tax for 2014. Deposit 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 10 to file the return.
2 W-2G Due from Payers of Gambling Winnings
If you paid either reportable gambling winnings or withheld income tax from gambling winnings, give the winners their copies of the W-2G form for 2014.
2 File 2014 Return to Avoid Penalty for Not Making 4th Quarter Estimated Payment
If you file your prior year’s return and pay any tax due by this date, you need not make the 4th Quarter Estimated Tax Payment (January calendar).
2 File Form 940 - Federal Unemployment Tax
File Form 940 (or 940-EZ) for 2014. 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 deposited the tax for the year in full and on time, you have until February 10 to file the return.
2 File Form 945
File Form 945 to report income tax withheld for 2014 on all non-payroll items, including back-up withholding and withholding on pensions, annuities, IRAs, gambling winnings, and payments of Indian gaming profits to tribal members. Deposit 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 10 to file the return.
2 Tax Appointment
If you don’t already have an appointment scheduled with this office, you should call to make an appointment that is convenient for you.
10 Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during January, you are required to report them to your employer on IRS Form 4070 no later than February 10.

Your employer is required to withhold FICA taxes and income tax withholding for these tips from your regular wages. If your regular wages are insufficient to cover the FICA and tax withholding, the employer will report the amount of the uncollected withholding in box 12 of your W-2 for the year. You will be required to pay the uncollected withholding when your return for the year is filed.
10 Non-Payroll Taxes
File Form 945 to report income tax withheld for 2014 on all non-payroll items. This due date applies only if you deposited the tax for the year in full and on time.
10 Social Security, Medicare and Withheld Income Tax
File Form 941 for the fourth quarter of 2014. This due date applies only if you deposited the tax for the quarter in full and on time.
10 Certain Small Employers
File Form 944 to report Social Security and Medicare taxes and withheld income tax for 2014. This due date applies only if you deposited the tax for the year in full and on time.
17 Last Date to Claim Exemption from Withholding
If you claimed an exemption from income tax withholding last year on the Form W-4 you gave your employer, you must file a new Form W-4 by this date to continue your exemption for another year.
17 Social Security, Medicare and Withheld Income Tax
If the monthly deposit rule applies, deposit the tax for payments in January.
17 Non-Payroll Withholding
If the monthly deposit rule applies, deposit the tax for payments in January.
18 All Employers
Begin withholding income tax from the pay of any employee who claimed exemption from withholding in 2014, but did not give you a new Form W-4 to continue the exemption this year.
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