Major
Tax Deadlines For January 2007
January
16 - Final 2006 individual estimated tax payment is due, unless 2006
tax return is filed and taxes are paid in full by January 31, 2007.
January
31 - Employers must provide 2006 W-2 statements to employees.
January
31 - Payors must provide 2006 Form 1099s
to payees.
January
31 - Employers must generally file Form 941 for the fourth quarter
of 2006 and pay any tax due.
January
31 - Employers must generally file 2006 federal unemployment tax
returns and pay any tax 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, if you owe
$2,500 or less for the calendar quarter, or if your estimated annual liability is
$1,000 or less.
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.
