To help taxpayers, the IRS updated the special Withholding Calculator tool on IRS.gov to reflect changes in the Tax Cuts and Jobs Act passed in December. With most employees seeing withholding changes in their paychecks, the IRS recommends taxpayers use the Withholding Calculator to do a “paycheck checkup.” This will help taxpayers check that they are having the correct amount of income tax withheld from their paychecks. Doing a checkup can help protect against having too lit
Form 2018 Filing Due Date (Tax Year 2017) Form W-2 (electronic or mail) January 31st Form 1065 – Partnerships March 15th Form 1120S – S Corporations March 15th Form 1040 – Individuals April 17th FinCEN 114 – FBAR (will be allowed to extend) April 17th Form 1041 – Trusts and Estates
Small business owners, DO NOT FORGET to send your subcontracts 1099 before February 1,2016 . If you fail to file a correct 1099 information return by the due date and you cannot show reasonable cause, you may be subject to a penalty.