Major
Tax Deadlines For April 2005
April
1 - Deadline for taking
your first required IRA distribution if you turned 70½ in 2004. Unless you're
still working, this deadline also applies to your other retirement accounts
(except for Roth IRAs).
April
15 - Individual income
tax returns for 2004 are due.
April
15 - 2004 calendar-year
partnership returns are due.
April
15 - 2004 annual gift
tax returns are due.
April
15 - Deadline for making
2004 IRA contributions.
April
15 - Deadline for
employers to make contributions to certain retirement plans.
April
15 - First installment
of 2005 individual estimated tax is due.
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.
