April 2017 tax compliance calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of April 2017.

 

April 1

Individuals. Taxpayers who turned 70½ during 2016 must start to receive required minimum distributions (RMDs) from their IRAs; retirees who turned 70½ during 2016 must receive RMDs from workplace retirement plans.

 April 5

Employers. Semi-weekly depositors must deposit employment taxes for Mar 29–Mar 31.

 April 7

Employers. Semi-weekly depositors must deposit employment taxes for Apr 1–Apr 4.

 April 10

Employees who work for tips. Employees who received $20 or more in tips during March must report them to their employer using Form 4070.

April 12

Employers. Semi-weekly depositors must deposit employment taxes for Apr 5–Apr 7.

April 14

Employers. Semi-weekly depositors must deposit employment taxes for Apr 8–Apr 11.

April 18

Employers. Employers who paid cash wages of $2,000 or more in 2016 to a house-hold employee, file Schedule H (Form 1040).

Employers. For those to whom the monthly deposit rule applies, deposit employment taxes and nonpayroll withholding for payments in March 2017.

Farmers and fisherman. File a 2016 income tax return (Form 1040) by April 18 if not previously filed.

Individuals. File a 2016 income tax return (Form 1040 series) and pay any tax due. If not filing Form 1040, file for a six-month extension but make full payment with extension request.

Individuals. If not paying 2017 income tax through withholding (or won’t pay in enough tax during the year that way), pay the first installment of the 2017 estimated tax using Form 1040-ES.

Corporations. File a 2016 calendar year income tax return (Form 1120) and pay any tax due. For an automatic 6-month extension of time to file the return, file Form 7004 and deposit an estimated amount of the taxes owed.

Corporations. Deposit the first installment of estimated income tax for 2017.

Partnerships. File a 2016 calendar year return (Form 1065). Provide each partner with a Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc., or a substitute Schedule K-1.

April 20

Employers. Semi-weekly depositors must deposit employment taxes for Apr 12–Apr 14.

April 21

Employers. Semi-weekly depositors must deposit employment taxes for Apr 15–Apr 18.

April 26

Employers. Semi-weekly depositors must deposit employment taxes for Apr 19–Apr 21.

April 28

Employers. Semi-weekly depositors must deposit employment taxes for Apr 22–Apr 25.

May 3

Employers. Semi-weekly depositors must deposit employment taxes for Apr 26–Apr 28.

May 5

Employers. Semi-weekly depositors must deposit employment taxes for Apr 29–May 2.

Written by

Steve Moss, CPA is a partner at Holden Moss CPAs and loves helping businesses and their owners grow to be the very best they can be. Our other offices include Raleigh, Oxford and Warrenton. We are a little different at Holden Moss CPAs. While we still provide traditional tax and accounting services, years ago we realized many clients wanted help in running their businesses and were hungry for ideas, solutions, strategy, and execution. In response, we expanded our skill set and joined Ran One, a global network of business consulting firms. Our membership with Ran One gives us access to proprietary resources and analytical software to help our clients grow, become more profitable and valuable, and have the lifestyle they desire. Now, blended into the fabric of our normal tax and accounting needs, we are focused on our clients’ businesses in a very different way. While our approach is not right for everyone, for those whom it is, incredible results may be obtained. Whether you have a new, or established, business, or for those in transition of selling or retiring, or for those who simply need to develop an exit strategy or succession plan, our unique approach to client service may be the edge you need.

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