2010 Tax Calendar

January 2010
January 1	Category: Employers (Payroll Taxes) Stop advance credit of the earned income credit for any employee not submitting a new Form W-5.
January 11	Category: Employees who work for tips Employees who work for tips. If you received $20 or more in tips during December 2009, report them to your employer. You can use Form 4070 Employee's Report of Tips to Employer.
January 15	Category: Business Owners Farmers and Fisherman: Pay your estimated tax for 2009. Use Form 1040-ES.
	Category: Employers (Payroll Taxes) Employers - Deposit payroll tax for December 2009 if the monthly deposit rule applies.
	Category: Individuals Individuals- Pay the final installment of your 2009 estimated tax. Use Form 1040-ES.
February 2010
February 1	Category: Business Owners Furnish Forms 1098, 1099, and W-2G to recipients for certain payments made during 2009, and Form W-2 to employees who worked for you during 2009. Deposit FUTA tax owed through December 2009. File 2009 Forms 940, 941, 943 944 and/or 945 if you did not deposit all taxes when due.
	File form 730 and pay the tax on wagers accepted during December 2009. File Form 2290 and pay the tax on vehicles first used in December 2009.
	Category: Employers (Payroll Taxes) File Form 720 for the 4th quarter of 2009.
February 10	Category: Employees who work for tips 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 Employee's Report of Tips to Employer.
	Category: Employers (Payroll Taxes) Employers - File 2009 Forms 940, 941, 943, 944 and/or 945 if you timely deposited all required payments.
February 15	Category: Individuals File a new Form W-4 if you claimed exemption from income tax withholding in 2009.
February 16	Category: Business Owners Furnish forms 1099-B, 1099-S and certain 1099-MISC to recipients.
	Category: Employers (Payroll Taxes) Deposit Payroll tax for January if the monthly deposit rule applies
	Employers: Begin withholding on employees who claimed exemption from withholding in 2009 but did not file a W-4 to continue withholding exemption in 2010.
March 2010
March 1	Category: Business Owners Farmers and Fishermen: File 2009 Form 1040 and pay any tax due. However, you have until Apr 15 to file if you paid your 2009 estimated tax payments by Jan 15, 2010
	File information returns, including Forms 1098, 1099 and W-2G, for payments made during 2009. File Form 730 and pay the tax on wagers accepted during January. File Form 2290 and pay the tax for vehicles first used in January. File Form 8027 if you are a large food or beverage establishment.
	Category: Employers (Payroll Taxes) File Form W-3 with Copy A of all Forms W-2 you issued for 2009.
March 10	Category: Employees who work for tips 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 Employee's Report of Tips to Employer.
March 15	Category: Corporations Corporations: File Form 1120 for 2009 calendar year and pay any tax due. For automatic 6-month extension File Form 7004 and deposit estimated tax.
	Category: Employers (Payroll Taxes) Deposit payroll tax for February if the monthly deposit rule applies.
	Category: Partnerships Electing Large Partnerships: Furnish Sch. K-1 (Form 1065-B) to each partner.
	Category: S Corporations S Corporations: File Form 1120S for 2009 calendar year and pay an tax due. Provide shareholders with a copy of Sch. K-1.
	S Corporation elections: File Form 2553 to elect S Corporation status beginning with calendar year 2010.
March 31	Category: Business Owners Electronically file Forms W-2, W-2G, 1098, 1099, and 8027. File Form 730 and pay the tax on wagers accepted during February. File Form 2290 and pay the tax for vehicles first used in February.
April 2010
April 12	Category: Employees who work for tips Employees: 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 Employee's Report of Tips to Employer.
April 15	Category: Corporations Corporations: Deposit the first installment of your estimated tax for 2010.
	Category: Employers (Payroll Taxes) Deposit Payroll tax for March if the monthly deposit rule applies.
	Category: Household Employers Household employers: File Schedule H with Form 1040 if you paid $1,700 or more to a household employee.
	Category: Individuals File applicable 2009 form 1040, 1040A or 1040EZ. For automatic 6-month extension file Form 4868 and deposit estimated tax. Pay the first installment of 2010 estimated tax.
	Category: Partnerships File 2009 form 1065 and provide each partner with a copy of Sch. K-1. Electing Large Partnerships: File 2009 Form 1065 calendar year return
April 30	Category: Business Owners File Form 730 and pay the tax on wagers accepted during March. File Form 2290 and pay the tax on vehicles first used in March.
	Category: Employers (Payroll Taxes) File Form 941 for the first quarter of 2010. File Form 720 for the 1st quarter of 2010. Deposit FUTA tax owed through March if more than $500.
May 2010
May 10	Category: Employees who work for tips 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 Employee's Report of Tips to Employer.
May 17	Category: Employers (Payroll Taxes) Deposit Payroll tax for April if the monthly deposit rule applies.
June 2010
June 1	Category: Business Owners File Form 730 and pay the tax on wagers accepted during April. File Form 2290 and pay the tax for vehicles first used in April.
June 10	Category: Employees who work for tips 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 Employee's Report of Tips to Employer.
June 15	Category: Corporations Corporations: Deposit the second installment of your estimated tax for 2010.
	Category: Employers (Payroll Taxes) Deposit Payroll tax for May if the monthly deposit rule applies.
	Category: Individuals Individuals outside the U.S.: File 2009 Form 1040. Individuals: Pay the second installment of extimated tax for 2010.
June 30	Category: Business Owners File Form 730 and pay the tax on wagers accepted during May. File Form 2290 and pay the tax for vehicles first used in May.
July 2010
July 1	Category: Business Owners File Form 11-C to register and pay annual tax if you are in the business of wagers.
July 12	Category: Employees who work for tips 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 Employee's Report of Tips to Employer.
July 15	Category: Employers (Payroll Taxes) Deposit Payroll tax for June if the monthly deposit rule applies.
August 2010
August 2	Category: Business Owners File Form 730 and pay the tax on wagers accepted during June. File Form 720 for the 2nd quarter of 2010. File Form 2290 and pay the tax for vehicles first used in June.
	Category: Employers (Payroll Taxes) Employers - File Form 5500 or 5500-EZ for 2009. Deposit FUTA owed through June if more than $500. File Form 941 for the 2nd quarter of 2010.
August 10	Category: Employees who work for tips 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 Employee's Report of Tips to Employer.
	Category: Employers (Payroll Taxes) File Form 941 for the second quarter of 2010 if you timely deposited all required payments.
August 16	Category: Employers (Payroll Taxes) Deposit Payroll tax for July if the monthly deposit rule applies.
August 31	Category: Business Owners File Form 730 and pay tax on wagers accepted during July. File Form 2290 and pay the tax for vehicles first used during July.
September 2010
September 10	Category: Employees who work for tips 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 Employee's Report of Tips to Employer.
September 15	Category: Corporations Corporations: File calendar year 2009 Form 1120 or 1120S if you timely requested a 6-month extension. Deposit third installment of your 2010 estimated tax.
	Category: Employers (Payroll Taxes) Deposit Payroll tax for August if the monthly deposit rule applies.
	Category: Individuals Individuals: Pay the third installment of your estimated tax for 2010.
	Category: Partnerships File 2009 Form 1065 if you timely requested a 5-month extension.
September 30	Category: Business Owners File Form 730 and pay the tax on wagers accepted during August. File Form 2290 and pay the tax for vehicles first used in August.
October 2010
October 12	Category: Employees who work for tips 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 Employee's Report of Tips to Employer.
October 15	Category: Employers (Payroll Taxes) File 2009 Form 5500 if you timely requested an extension on Form 5558.
	Deposit Payroll tax for September if the monthly deposit rule applies.
	Category: Individuals Individuals: File 2009 Form 1040, 1040A or 1040 EZ if you timely requested a 6-month extension
	Category: Partnerships Partnerships: File your 2009 tax return if you were given a 6-month extension. Electing Large Partnerships: File 2009 Form 1065 if you timely requested a 6 month extension.
November 2010
November 1	Category: Business Owners File Form 730 and pay tax on wagers accepted during September. File Form 2290 and pay tax for vehicles first used during September.
	Category: Employers (Payroll Taxes) File Form 720 for the 3rd quarter of 2010. File Form 941 for the 3rd quarter of 2010. Deposit FUTA owed through September if more than $500
November 10	Category: Employees who work for tips 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 Employee's Report of Tips to Employer.
	Category: Employers (Payroll Taxes) File form 941 for the third quarter of 2010 if you timely deposited all required payments.
November 15	Category: Employers (Payroll Taxes) Deposit Payroll tax for October if the monthly deposit rule applies.
November 30	Category: Business Owners File Form 730 and pay tax on wagers accepted during October. File Form 2290 and pay tax for vehicles first used during October.
December 2010
December 10	Category: Employees who work for tips 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 Employee's Report of Tips to Employer.

Change Your Withholding

anne08 Asked

How can I change my total tax withholding?

This is a very simple matter.

First determine how many exemptions you need to claim by using the IRS withholding tool.

http://www.irs.gov/individuals/article/0,,id=96196,00.html?portlet=4

Then fill in a W-4 form with your employer indicating the new withholding exceptions.

If you need further information go to the IRS document on the topic.

http://www.irs.gov/pub/irs-pdf/p919.pdf

Social Security Max

Do you make over 100k per year and switched jobs? If so you may have overpaid on you social security taxes.

Even though it's not included when we talk about marginal tax rates all employees have to pay 6.2% of their gross income to Social Security and 1.45% for Medicare.

The employee tax rate for social security is 6.2% (amount withheld). The 2007 wage base limit was $97,500. For 2008, the wage base limit is $102,000 or 6,324. The problem is, your employers have no idea what you're making at your other jobs, or when you reach that cap.


If you worked for two or more employers and had too much withheld, you can claim the excess as a credit on your taxes. You do this on form 1040, line 67 or form 1040A, line 43.
An example of this. You worked for a company that paid you $58,000 during 2008 and withheld $3,596 (6.2% of $58,000) in Social Security tax. You then found a better opportunity and worked for another employer who paid you $57,000 and withheld $3,534 of Social Security tax (6.2% of $57,000). Thus, the Social Security tax withheld totaled $7,130. That's $806 more than you actually owe ($7,130 minus $6,324). So you're entitled to a credit of $806.
It is not even worth trying to get your employer to stop withholding Social Security taxes if you "know" you're over the limit already They just keep withholding as if that was your only job.

One way to stop from paying too much to the tax man is to change your total tax withholding (increase exemptions, etc.) in order to counteract this overpayment and keep your money now instead of getting a future refund.

Source of information http://www.irs.gov/publications/p15/index.html
Article Source: http://ezinearticles.com/?expert=Brian_Davis

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Quick Tip of the day.

When deciding on a business name before you commit to any binding decisions make sure you can get the web address.