January 2017 Tax Compliance Calendar

January 5
Employers. Semi-weekly depositors must deposit employment taxes for Dec 28–Dec 30.

January 6
Employers. Semi-weekly depositors must deposit employment taxes for Dec 31 and Jan 1–Jan 3.

January 10
Employees who work for tips. Employees who received $20 or more in tips during December must report them to their employer using Form 4070.

January 11
Employers. Semi-weekly depositors must deposit employment taxes for Jan 4–Jan 6.

January 13
Employers. Semi-weekly depositors must deposit employment taxes for Jan 7–Jan 10.

January 17
Employers. For those to whom the monthly deposit rule applies, deposit employment taxes and nonpayroll withholding for payments in December 2016.

Individuals. Make payment of estimated tax for 2016 using Form 1040-ES if there was insufficient or no tax withholding. Alternatively, file Form 1040 and pay tax liability by January 31, 2017.

Farmers and fishermen. Make payment for estimated tax for 2016 using Form 1040-ES.

Employers. Semi-weekly depositors must deposit employment taxes for Dec 10–Dec 13.

January 19
Employers. Semi-weekly depositors must deposit employment taxes for Jan 11–Jan 13.

January 23
Employers. Semi-weekly depositors must deposit employment taxes for Jan 14–Jan 17.

January 25
Employers. Semi-weekly depositors must deposit employment taxes for Jan 18–Jan 20.

January 27
Employers. Semi-weekly depositors must deposit employment taxes for Jan 21–Jan 24.

January 31
Employers. Provide employees with copies of their Form W-2 for 2016.
Health coverage reporting. Applicable large employers must provide Form 1095-C to full-time employees.

Employers. File Form 941 for fourth quarter of 2016 and deposit or pay any undeposited tax. Pay tax liability in full with timely filed return if less than $2,500. If the tax for the quarter was deposited timely, properly, and in full, deadline to file Form 941 is February 10.

Certain small employers. File form 944 to report social security and Medicare taxes and withheld income tax for 2016. Deposit any undeposited tax if tax liability is $2,500 or more for 2016 but less than $2,500 for the fourth quarter. If the tax for the year was deposited timely, properly, and in full, deadline to file Form 944 is February 10.

Farm employers. File form 943 to report social security and Medicare taxes and withheld income tax for 2016. Deposit any undeposited tax if tax liability is $2,500 or more for 2016 but less than $2,500 for the fourth quarter. If the tax for the year was deposited timely, properly, and in full, deadline to file Form 943 is February 10.

Individuals. File Form 1040 and pay tax liability if the last installment of estimated tax was not paid by January 17, 2017.

Businesses. Provide annual information statements to recipients of certain payments made in 2016 on the appropriate information return.

Payers of nonemployee compensation. File Form 1099-MISC for nonemployee compensation paid in 2016.

Payers of gambling winnings. Provide Form W-2G to gambling winners for reportable gambling winnings or withheld income tax from gambling winnings.

Nonpayroll taxes. File Form 945 to report income tax withheld for 2016 on nonpayroll items and deposit or pay any undeposited tax. Pay tax liability in full with timely filed return if less than $2,500. If the tax is deposited timely, properly, and in full, deadline to file Form 945 is February 10.

Federal unemployment tax. File Form 940 to report federal unemployment tax for and deposit or pay any undeposited tax. If undeposited tax is $500 or less, either pay with return or deposit it. If more than $500, deposit it. If the tax is deposited timely, properly, and in full, deadline to file Form 940Ju is February 10.

February 1
Employers. Semi-weekly depositors must deposit employment taxes for Jan 25–Jan 27.

February 3
Employers. Semi-weekly depositors must deposit employment taxes for Jan 28–Jan 31.

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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