Tax and Accounting Due Dates for 2008

General Tax Calendar

This tax calendar has the due dates for 2008 that most taxpayers will need. Employers should use the Employer’s Tax Calendar included below. If you pay Excise taxes, please contact us for a list of important dates.

Fiscal-year taxpayers. If you file your income tax return for a fiscal year rather than the calendar year, you must change some of the dates in this calendar. Please contact us and we will advise you of the differences.

First Quarter

The first quarter of a calendar year is made up of January, February, and March.

January 10

Employees who work for tips. If you received $20 or more in tips during December, report them to your employer. You can use Form 4070, Employee’s Report of Tips to Employer.

January 15

Individuals. Make a payment of your estimated tax for 2007 if you did not pay your income tax for the year through withholding (or did not pay in enough tax that way). Use Form 1040-ES. This is the final installment date for 2007 estimated tax. However, you do not have to make this payment if you file your 2007 return (Form 1040) and pay any tax due by January 31, 2008.

Farmers and fishermen. Pay your estimated tax for 2007 using Form 1040-ES. You have until April 15 to file your 2007 income tax return (Form 1040). If you do not pay your estimated tax by January 15, you must file your 2007 return and pay any tax due by March 3, 2008, to avoid an estimated tax penalty.

January 31

Individuals who must make estimated tax payments. If you did not pay your last installment of estimated tax by January 15, you may choose (but are not required) to file your income tax return (Form 1040) for 2007 by January 31. Filing your return and paying any tax due by January 31 prevents any penalty for late payment of the last installment. If you cannot file and pay your tax by January 31, file and pay your tax by April 15.

All businesses. Give annual information statements to recipients of certain payments you made during 2007. You can use the appropriate version of Form 1099 or other information return. Form 1099 can be issued electronically with the consent of the recipient. 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 ex- change 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 $10,000. See the instructions for Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business.

February 11

Employees who work for tips. If you received $20 or more in tips during January, report them to your employer. You can use Form 4070.

February 15

Individuals. If you claimed 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.

February 28

All businesses. File information returns (Form 1099) for certain payments you made during 2007. These payments are described under January 31. There are different forms for different types of payments. Use a separate Form 1096 to summarize and transmit the forms for each type of payment. See the 2007 General Instructions for Forms 1099, 1098, 5498, and W-2G for information on what payments are covered, how much the payment must be before a return is required, which form to use, and extensions of time to file. If you file Forms 1098, 1099, or W-2G electronically (not by magnetic media), your due Page 3 date for filing them with the IRS will be extended to March 31. The due date for giving the recipient these forms remains January 31.

March 3

Farmers and fishermen. File your 2007 income tax return (Form 1040) and pay any tax due. However, you have until April 15 to file if you paid your 2007 estimated tax by January 15, 2008.

March 10

Employees who work for tips. If you received $20 or more in tips during February, report them to your employer. You can use Form 4070.

March 17

Corporations. File a 2007 calendar year income tax return (Form 1120 or 1120-A) and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 7004, Application for Automatic 6-Month Extension of Time To File Certain Business Income Tax, Information, and Other Returns, and deposit what you estimate you owe.

S corporations. File a 2007 calendar year income tax return (Form 1120S) and pay any tax due. Provide each shareholder with a copy of Schedule K-1 (Form 1120S), Shareholder’s Share of Income, Deductions, Credits, etc., or a substitute Schedule K-1. If you want an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe.

S corporation election. File Form 2553, Election by a Small Business Corporation, to choose to be treated as an S corporation beginning with calendar year 2008. If Form 2553 is filed late, S treatment will begin with calendar year 2009.

Electing large partnerships. Provide each partner with a copy of Schedule K-1 (Form 1065-B), Partner’s Share of Income (Loss) From an Electing Large Partnership, or a substitute Schedule K-1. This due date is effective for the first March 17 following the close of the partnership’s tax year. The due date of March 17 applies even if the partnership requests an extension of time to file the Form 1065-B by filing Form 7004.

March 31

Electronic filing of Forms 1098, 1099, and W-2G. File Forms 1098, 1099, or W-2G with the IRS. This due date applies only if you file electronically (not by magnetic media). Otherwise, see February 28. The due date for giving the recipient these forms remains January 31. For information about filing Forms 1098, 1099, or W-2G electronically, see Publication 1220, Specifications for Filing Forms 1098, 1099, 5498 and W-2G Electronically or Magnetically.

Second Quarter

The second quarter of a calendar year is made up of April, May, and June.

April 10

Employees who work for tips. If you received $20 or more in tips during March, report them to your employer. You can use Form 4070.

April 15

Individuals. File a 2007 income tax return (Form 1040, 1040A, or 1040EZ) and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return, or you can get an extension by phone or over the Internet. Then, file Form 1040, 1040A, or 1040EZ by October 15.

Household employers. If you paid cash wages of $1,500 or more in 2007 to a household employee, you must file Schedule H. If you are required to file a federal income tax return (Form 1040), file Schedule H with the return and report any household employment taxes. Report any federal unemployment (FUTA) tax on Schedule H if you paid total cash wages of $1,000 or more in any calendar quarter of 2006 or 2007 to household employees. Also, report any income tax you withheld for your household employees. For more information, see Publication 926.

Individuals. If you are not paying your 2008 income tax through withholding (or will not pay in enough tax during the year that way), pay the first installment of your 2008 estimated tax. Use Form 1040-ES. For more information, see Publication 505.

Partnerships. File a 2007 calendar year return (Form 1065). Provide each partner with a copy of Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc., or a substitute Schedule K-1. If you want an automatic 6-month extension of time to file the return and provide Schedule K-1 or a substitute Schedule K-1, file Form 7004. Then, file Form 1065 by October 15.

Electing large partnerships. File a 2007 calendar year return (Form 1065-B). If you want an automatic 6-month extension of time to file the return, file Form 7004. Then, file Form 1065-B by October 15. See March 17 for the due date for furnishing Schedules K-1 or substitute Schedules K-1 to the partners.

Corporations. Deposit the first installment of estimated income tax for 2008. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.

May 12

Employees who work for tips. If you received $20 or more in tips during April, report them to your employer. You can use Form 4070.

June 10

Employees who work for tips. If you received $20 or more in tips during May, report them to your employer. You can use Form 4070.

June 16

Individuals. If you are a U.S. citizen or resident alien living and working (or on military duty) outside the United States and Puerto Rico, file Form 1040 and pay any tax, interest, and penalties due. Otherwise, see April 15. If you want additional time to file your return, file Form 4868 to obtain 4 additional months to file. Then, file Form 1040 by October 15. However, if you are a participant in a combat zone, you may be able to further extend the filing deadline. See Publication 3, Armed Forces’ Tax Guide. Individuals. Make a payment of your 2008 estimated tax if you are not paying your income tax for the year through withholding (or will not pay in enough tax that way). Use Form 1040-ES. This is the second installment date for estimated tax in 2008. For more information, see Publication 505.

Corporations. Deposit the second installment of estimated income tax for 2008. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.

Third Quarter

The third quarter of a calendar year is made up of July, August, and September.

July 10

Employees who work for tips. If you received $20 or more in tips during June, report them to your employer. You can use Form 4070.

August 11

Employees who work for tips. If you received $20 or more in tips during July, report them to your employer. You can use Form 4070.

September 10

Employees who work for tips. If you received $20 or more in tips during August, report them to your employer. You can use Form 4070.

September 15

Individuals. Make a payment of your 2008 estimated tax if you are not paying your income tax for the year through withholding (or will not pay in enough tax that way). Use Form 1040-ES. This is the third installment date for estimated tax in 2008. For more information, see Publication 505.

Corporations. File a 2007 calendar year income tax return (Form 1120 or 1120-A) and pay any tax, interest, and penalties due. This Publication 509 (October 2007) due date applies only if you timely requested an automatic 6-month extension. Otherwise, see March 17.

S corporations. File a 2007 calendar year income tax return (Form 1120S) and pay any tax due. This due date applies only if you timely requested an automatic 6-month extension. Otherwise, see March 17. Provide each shareholder with a copy of Schedule K-1 (Form 1120S) or a substitute Schedule K-1.

Corporations. Deposit the third installment of estimated income tax for 2008. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.

Fourth Quarter

The fourth quarter of a calendar year is made up of October, November, and December.

October 10

Employees who work for tips. If you received $20 or more in tips during September, report them to your employer. You can use Form 4070.

October 15

Individuals. If you have an automatic 6-month extension to file your income tax return for 2007, file Form 1040, 1040A, or 1040EZ and pay any tax, interest, and penalties due.

Partnerships. File a 2007 calendar year return (Form 1065). This due date applies only if you were given an additional 6-month extension. Provide each partner with a copy of Schedule K-1 (Form 1065) or a substitute Schedule K-1.

Electing large partnerships. File a 2007 calendar year return (Form 1065-B). This due date applies only if you were given an additional 6-month extension. See March 17 for the due date for furnishing Schedules K-1 or substitute Schedules K-1 to the partners.

November 10

Employees who work for tips. If you received $20 or more in tips during October, report them to your employer. You can use Form 4070.

December 10

Employees who work for tips. If you received $20 or more in tips during November, report them to your employer. You can use Form 4070.

December 15

Corporations. Deposit the fourth installment of estimated income tax for 2008. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.

Employer's Tax Calendar

This tax calendar covers various due dates of interest to employers. Principally, it covers the following federal taxes.

• Income tax you withhold from your employees’ wages or from nonpayroll amounts you pay out.
• Social security and Medicare taxes (FICA taxes) you withhold from your employees’ wages and the social security and Medicare taxes you must pay as an employer.
• Federal unemployment (FUTA) tax you must pay as an employer.

The calendar lists due dates for filing returns and for making deposits of these three taxes throughout the year. Use this calendar with Publication 15 (Circular E), which gives the deposit rules.

Forms you may need. The following is a list and description of the primary employment tax forms you may need.

1. Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return. This form is due 1 month after the calendar year ends. Use it to report the FUTA tax on wages you paid.
2. Form 941, Employer’s QUARTERLY Federal Tax Return. This form is due 1 month after the calendar quarter ends. Use it to report social security and Medicare taxes and withheld income taxes on wages if your employees are not farm workers or household employees.
3. Form 943, Employer’s Annual Federal Tax Return for Agricultural Employees. This form is due 1 month after the calendar year ends. Use it to report social security and Medicare taxes and withheld income taxes on wages if your employees are farm workers.
4. Form 944, Employer’s ANNUAL Federal Tax Return. This form is due 1 month after the calendar year ends. Certain small employers use it instead of Form 941 to report social security and Medicare taxes and withheld income tax. 
5. Form 945, Annual Return of Withheld Federal Income Tax. This form is due 1 month after the calendar year ends. Use it to report income tax withheld on all nonpayroll items. Nonpayroll items include the following.
   1. Backup withholding.
   2. Withholding on pensions, annuities, IRAs, and gambling winnings.
   3. Payments of Indian gaming profits to tribal members.

Fiscal-year taxpayers. The dates in this calendar apply whether you use a fiscal year or the calendar year as your tax year. The only exception is the date for filing Forms 5500 and 5500-EZ. These employee benefit plan forms are due by the last day of the seventh month after the plan year ends. See July 31, later.

Extended due dates. If you deposit in full and on time the tax you are required to report on Form 940, 941, 943, 944, or 945, you have an additional 10 days to file that form. If you are subject to the semiweekly deposit rule, use the table near the end of this page for your deposit due dates. However if you accumulate $100,000 or more of taxes on any day during a deposit period, you must deposit the tax by the next banking day instead of the date shown in the table.

First Quarter

The first quarter of a calendar year is made up of January, February, and March.

During January

All employers. Give your employees their copies of Form W-2 for 2007 by January 31, 2008. If an employee agreed to receive Form W-2 electronically, post it on a website accessible to the employee and notify the employee of the posting by January 31.

January 1

Earned income credit. Stop advance payments of the earned income credit for any employee who did not give you a new Form W-5 (or Formulario W-5(SP), its Spanish version) for 2008.

January 15

Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in December 2007. Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in December 2007.

January 31

All employers. Give your employees their copies of Form W-2 for 2007. If an employee agreed to receive Form W-2 electronically, have it posted on a website and notify the employee of the posting.

Payers of gambling winnings. If you either paid reportable gambling winnings or withheld income tax from gambling winnings, give the winners their copies of Form W-2G.

Nonpayroll taxes. File Form 945 to report income tax withheld for 2007 on all nonpayroll items, including backup withholding and withholding on pensions, annuities, IRAs, gambling winnings, and payments of Indian gaming profits to tribal members. Deposit or pay any undeposited tax under the accuracy of deposit rules. 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 11 to file the return.

Social security, Medicare, and withheld income tax. File Form 941 for the fourth quarter of 2007. Deposit or pay any undeposited tax under the accuracy of deposit rules. If your tax liability is $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 11 to file the return.

Certain small employers. File Form 944 to report social security and Medicare taxes and Page 6 withheld income tax for 2007. Deposit or pay any undeposited tax under the accuracy of deposit rules. If your tax liability is $2,500 or more for 2007 but less than $2,500 for the fourth quarter, deposit any undeposited tax or pay it in full with a timely filed return.

Farm employers. File Form 943 to report social security and Medicare taxes and withheld income tax for 2007. Deposit or pay any undeposited tax under the accuracy of deposit rules. 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 11 to file the return.

Federal unemployment tax. File Form 940 for 2007. 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 11 to file the return.

February 11

Nonpayroll taxes. File Form 945 to report income tax withheld for 2007 on all nonpayroll items. This due date applies only if you deposited the tax for the year in full and on time.

Social security, Medicare, and withheld income tax. File Form 941 for the fourth quarter of 2007. This due date applies only if you deposited the tax for the quarter in full and on time.

Certain small employers. File Form 944 to report social security and Medicare taxes and withheld income tax for 2007. This due date applies only if you deposited the tax for the year in full and on time.

Farm employers. File Form 943 to report social security and Medicare taxes and withheld income tax for 2007. This due date applies only if you deposited the tax for the year in full and on time.

Federal unemployment tax. File Form 940 for 2007. This due date applies only if you deposited the tax for the year in full and on time.

February 15

Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in January.

Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in January.

February 16

All employers. Begin withholding income tax from the pay of any employee who claimed exemption from withholding in 2007, but did not give you a new Form W-4 (or Formulario W-4(SP), its Spanish version) to continue the exemption this year.

February 28

Payers of gambling winnings. File Form 1096, Annual Summary and Transmittal of U.S. Information Returns, along with Copy Aof all the Forms W-2G you issued for 2007. If you file Forms W-2G electronically (not by magnetic media), your due date for filing them with the IRS will be extended to March 31. The due date for giving the recipient these forms remains January 31.

February 29

All employers. File Form W-3, Transmittal of Wage and Tax Statements, along with Copy A of all the Forms W-2 you issued for 2007. If you file Forms W-2 electronically, your due date for filing them with the SSA will be extended to March 31. The due date for giving the recipient these forms remains January 31.

Large food and beverage establishment employers. File Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips. Use Form 8027-T, Transmittal of Employer’s Annual Information Return of Tip Income and Allocated Tips, to summarize and transmit Forms 8027 if you have more than one establishment. If you file Forms 8027 electronically (not by magnetic media), your due date for filing them with the IRS will be extended to March 31.

March 17

Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in February.

Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in February.

March 31

Electronic filing of Forms W-2. File copies of all the Forms W-2 you issued for 2007. This due date applies only if you electronically file. Otherwise, see February 29. The due date for giving the recipient these forms remains January 31.

Electronic filing of Forms W-2G. File copies of all the Forms W-2G you issued for 2007. This due date applies only if you electronically file (not by magnetic media). Otherwise, see February 28. The due date for giving the recipient these forms remains January 31. For information about filing Forms W-2G electronically, see Publication 1220, Specifications for Filing Forms 1098, 1099, 5498 and W-2G Electronically or Magnetically.

Electronic filing of Forms 8027. File Forms 8027 for 2007. This due date applies only if you electronically file (not by magnetic media). Otherwise, see February 29. Publication 509 (October 2007)

Second Quarter

The second quarter of a calendar year is made up of April, May, and June.

April 15

Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in March.

Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in March.

Household employers. If you paid cash wages of $1,500 or more in 2007 to a household employee, you must file Schedule H. If you are required to file a federal income tax return (Form 1040), file Schedule H with the return and report any household employment taxes. Report any federal unemployment (FUTA) tax on Schedule H if you paid total cash wages of $1,000 or more in any calendar quarter of 2006 or 2007 to household employees. Also, report any income tax you withheld for your household employees. For more information, see Publication 926.

April 30

Social security, Medicare, and withheld income tax. File Form 941 for the first quarter of 2008. Deposit or pay any undeposited tax under the accuracy of deposit rules. 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 May 12 to file the return.

Federal unemployment tax. Deposit the tax owed through March if more than $500.

May 12

Social security, Medicare, and withheld income tax. File Form 941 for the first quarter of 2008. This due date applies only if you deposited the tax for the quarter in full and on time.

May 15

Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in April.

Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in April.

June 16

Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in May.

Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in May. Publication 509 (October 2007)

Third Quarter

The third quarter of a calendar year is made up of July, August, and September.

July 15

Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in June.

Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in June.

July 31

Social security, Medicare, and withheld income tax. File Form 941 for the second quarter of 2008. Deposit or pay any undeposited tax under the accuracy of deposit rules. 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 August 11 to file the return.

Certain small employers. Deposit any un-deposited tax if your tax liability is $2,500 or more for 2008 but less than $2,500 for the second quarter.

Federal unemployment tax. Deposit the tax owed through June if more than $500.

All employers. If you maintain an employee benefit plan, such as a pension, profit-sharing, or stock bonus plan, file Form 5500 or 5500-EZ for calendar year 2007. If you use a fiscal year as your plan year, file the form by the last day of the seventh month after the plan year ends.

August 11

Social security, Medicare, and withheld income tax. File Form 941 for the second quarter of 2008. This due date applies only if you deposited the tax for the quarter in full and on time.

August 15

Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in July.

Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in July.

September 15

Social security, Medicare, and withheld income tax. If the monthly deposit rule ap¬plies, deposit the tax for payments in August.

Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in August.

Fourth Quarter

The fourth quarter of a calendar year is made up of October, November, and December.

October 15

Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in September.

Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in September.

October 31

Social security, Medicare, and withheld income tax. File Form 941 for the third quarter of 2008. Deposit or pay any undeposited tax under the accuracy of deposit rules. 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 November 10 to file the return.

Certain small employers. Deposit any un-deposited tax if your tax liability is $2,500 or more for 2008 but less than $2,500 for the third quarter.

Federal unemployment tax. Deposit the tax owed through September if more than $500.

During November

Income tax withholding. Ask employees whose withholding allowances will be different in 2009 to fill out a new Form W-4 or Formulario W-4(SP). The 2009 revision of Form W-4 will be available on the IRS website by mid-December.

Earned income credit. Ask each eligible employee who wants to receive advance payments of the earned income credit during the year 2009 to fill out a Form W-5 or Formulario W-5(SP). A new Form W-5 or Formulario W-5(SP) must be filled out each year before any payments are made. The 2009 revision of Form W-5 will be available on the IRS website by mid-December.

November 10

Social security, Medicare, and withheld income tax. File Form 941 for the third quarter of 2008. This due date applies only if you deposited the tax for the quarter in full and on time.

November 17

Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in October.

Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in October.

December 15

Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in November.

Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in November.