Major
Tax Deadlines For October 2005
October
17 - Deadline for filing 2004
individual tax returns on second extensions.
October
17 - If you converted a
regular IRA to a Roth IRA in 2004 and now want to switch back to a regular IRA,
you have until October 17, 2005, to do so without penalty.
October
17 - Deadline for filing 2004
partnership and limited liability company returns on second extensions.
These and other tax deadlines are
extended to February 28, 2006, for businesses and individuals located in the
Hurricane Katrina and Hurricane Rita disaster areas and for relief workers
providing assistance in these areas. For details on who qualifies for extensions,
contact our office at (336) 838-4100 or email JFaw@ConcordePlanning.com.
NOTE: Businesses are required to make federal tax
deposits on dates determined by various factors that differ from business to
business.
Payroll tax deposits: Employers
generally must deposit Form 941 payroll taxes (income tax withheld from
employees' pay and both the employer's and employees' share of social security
taxes) on either a monthly or semiweekly deposit schedule. There are exceptions
if you owe $100,000 or more on any day during a deposit period, or if you owe
$2,500 or less for the calendar quarter.
Monthly
depositors are required to deposit payroll taxes accumulated within a
calendar month by the fifteenth of the following month.
Semiweekly
depositors generally must deposit payroll taxes on Wednesdays or
Fridays, depending on when wages are paid.
For
more information on tax deadlines that apply to your business, contact our
office at (336) 838-4100 or email JFaw@ConcordePlanning.com.
