2010 Tax Deadlines for Small Businesses

Regardless of whether you handle your small business finances or employ an accountant to handle your taxes for you, it's important that you are aware of some of the important tax deadlines on the 2010 tax calendar. Just about every small business owner knows that April 15 is the annual income tax deadline. However, were you aware that you may have other deadlines for tax-related things like your estimated income tax, employee tax, and more?

Here are some important 2010 tax dates for you to keep in mind, broken down by month (note: not all of the requirements will apply to you and some of these dates are recommended dates, rather than firm dates. Click here for more information.):

Important 2010 Tax Dates for January

January 1 - Stop advanced credit on Earned Income Credit for employees who are not submitting a new Form W-5.

January 15 - Individuals should pay the last installment of 2009 quarterly estimated taxes. Form 1040-ES is required. Also, employers should deposit payroll taxes for December 2009 if they have a monthly deposit rule.

Important 2010 Tax Dates for February

February 1 - Make sure necessary recipients have Forms 1098, 1099, and W-2G for payments made in 2009. Employees who worked for you in 2010 should have Form W-2.

February 10 - File your 2009 Forms 940, 941, 944, and 945, if applicable.

February 15 - File a new Form W-4 for 2009 if you claimed an exemption from income tax withholding in 2009.

February 16 & 17 - Make sure necessary recipients have Forms 1099-B, 1099-S, and 1099-MISC.

Important 2010 Tax Dates for March

March 15 - Corporations should file Form 1120 for the 2009 calendar year and pay any taxes that may be due. If an extension is needed, file Form 7004 and deposit the estimated tax.

March 31 - File forms W-2, W-2G, 1098, 1099, and 8077 electronically and pay the necessary taxes.

Important Tax Dates for April 2010

April 15 - Individuals should file their 2009 Form 1040, 1040A, or 1040EZ statements. If an extension is needed, file Form 4868 and deposit the necessary tax estimate. Also, pay the first installment of the estimated taxes for 2010.

Important 2010 Tax Dates for June

June 15 - Individuals pay the second installment of their 2010 estimated taxes. Employers should also be sure to deposit their payroll tax for May, if the monthly deposit rule applies to them.

Important 2010 Tax Dates for July

July 1 - If your business takes wagers, file Form 11-C and pay your annual tax.

Important 2010 Tax Dates for August

August 2 - Employers should file Form 5500 or 5500EZ from 2009. Deposit the FUTA owed through June if more than $500 is owed. Also, file Form 941 for the second quarter of 2010.

Important 2010 Tax Dates for September

September 15 - Individuals should pay the third installment of their estimated taxes for 2010. Partnerships should file the 2009 Form 1065 if they requested a 5-month extension. Corporations that requested an extension should file their 2009 Form 1120 or 1120S paperwork.

Important 2010 Tax Dates for October

October 15 - Individuals who requested a 6-month extension should file their 2009 Form 1040, 1040A, or 1040EZ. Employers who filed for a 2009 extension should file form 5500. Electing Large Partnerships that filed for a 2009 extension should file form 1065.

Important 2010 Tax Dates for November

November 1 - File form 720 for the third quarter of 2010. Deposit FUTA through September, if applicable.

Important 2010 Tax Dates for December

December 15 - Corporations should deposit the fourth quarter installment of their estimated 2010 taxes.

Using these important 2010 tax dates, you should have a better idea of how to plan your finances and schedule for the upcoming year. When in doubt, look for more information on the IRS Web site or contact a trusted accountant.

Sources

http://www.irs.gov/businesses/small/page/0,,id=82780,00.html

http://www.irs.gov