Generally, employers must report wages, tips, and other compensation paid to an employee by filing the required form(s) to the IRS. Employers must also report on the taxes they deposit. Though early reporting deadlines for some forms have already passed in January and February, there are still some dates to keep on the radar.
By March 31
- File electronic Form 1099, Form 1099, Miscellaneous Income, when you are reporting non-employee compensation payments in box 7. See IRS Publication 1220 (PDF) for help in electronically filing Forms 1099,
- And electronic Form 8027 Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips with the IRS. See Publication 1239 (PDF) for help in electronically filing Forms 8027.
By April 30, July 31, October 31, and January 31 (for the fourth quarter of the previous calendar year)
- File Form 941, Employer’s QUARTERLY Federal Tax Return. If you timely deposited all taxes when due, you have 10 additional calendar days to file the return.
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This article is for informational purposes only and does not constitute legal advice. Readers should first consult their attorney, accountant or adviser before acting upon any information in this article.