Employer's Tax Calendar

This tax calendar covers various due dates of interest to employers. Principally, it covers the following federal taxes:

Income tax you withhold from your employees' wages or from non-payroll amounts you pay out.
Social security and Medicare taxes (FICA taxes) you withhold from your employees' wages and the social security and Medicare taxes you must pay as an employer.
Federal unemployment (FUTA) tax you must pay as an employer.

The calendar lists due dates for filing returns making deposits of these three taxes throughout the year. Use this calendar with Publication 15 (Circular E), which gives the deposit rules. The following is a list and description of the primary employment tax forms you may need.

Form 940 (or 940-EZ), Employer's Annual Federal Unemployment (FUTA) Tax Return. This form is due 1 month after the calendar year ends. Use it to report the FUTA tax you paid. Most employers can use Form 940-EZ, which is a simplified version of Form 940.
Form 941, Employer's Quarterly Federal Tax Return. This form is due 1 month after the calendar quarter ends. Use it to report social security and Medicare taxes and withheld income taxes on wages if your employees are not farm workers.
Form 943, Employer's Annual Federal Tax Return for Agricultural Employees. This form is due 1 month after the calendar year ends. Use it to report social security and Medicare taxes and withheld income taxes on wages if your employees are farm workers.
Form 944, Employer's ANNUAL Federal Tax Return. This form is due 1 month after the tax calendar year ends. Certain small employers use it instead of Form 941 to report social security and Medicare taxes and withheld income ta
Form 945, Annual Return of Withheld Federal Income Tax. This form is due 1 month after the calendar year ends. Use it to report income tax withheld on all non-payroll items. Non-payroll items include the following:
- Backup withholding.
- Withholding on pensions, annuities, IRAs, and gambling winnings.
- Payments of Indian gaming profits to tribal members.

Fiscal-year taxpayers. The dates in this calendar apply whether you use a fiscal year or the calendar year as your tax year. The only exception is the date for filing Forms 5500 and 5500-EZ. These employee benefit plan forms are due by the last day of the seventh month after the plan year ends. See July 31, later. Extended due dates. If you deposit in full and on time the tax you are required to report on Form 940 (or 940-EZ), 941, 943, or 945, you have an additional 10 days to file that form.

The first quarter of this calendar year is made of January, February, and March.

During January

All employers: Give your employees their copies of Form W-2 for 2007 by January 31, 2008. If an employee agreed to receive Form W-2 electronically, post it on a website accessible to the employee and notify the employee of the posting by January 31.

January 1

Earned income credit: Stop advance payments of the earned income credit for any employee who did not give you a new Form W-5 for 2008.

January 15

Social security, Medicare, and withheld income tax: If the monthly deposit rule applies, deposit the tax for payments in December 2007.

Nonpayroll withholding: If the monthly deposit rule applies, deposit the tax for payments in December 2007.

January 31

All employers: Give your employees their copies of Form W-2 for 2007. If an employee agreed to receive Form W-2 electronically, have it posted on a website and notify the employee of the posting.

Payers of gambling winnings: If you either paid reportable gambling winnings or withheld income tax from gambling winnings, give the winners their copies of Form W-2G.

Nonpayroll taxes: File Form 945 to report income tax withheld for 2007 on all nonpayroll items, including backup withholding and withholding on pensions, annuities, IRAs, gambling winnings, and payments of Indian gaming profits to tribal members.

Deposit any undeposited tax.(If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the year in full and on time, you have until February 11 to file the return.

Social security, Medicare, and withheld income tax: File Form 941 for the fourth quarter of 2007. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until February 11 to file the return.

Certain small employers: File form 944 to report social security and Medicare taxes and withheld tax for 2007. Deposit or pay and undeposited tax under the accuracy of deposit rules. If your tax liability is $2,500 or more for 2007 but less than $2,500 for the forth quarter, deposit any undeposited tax or pay it in full with a timely filed return.

Farm employers: File Form 943 to report social security and Medicare taxes and withheld income tax for 2007. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the year in full and on time, you have until February 11 to file the return.

Federal unemployment tax: File Form 940 (or 940-EZ) for 2007. If your undeposited tax is $500 or less, you can either pay it with your return or deposit it. If it is more than $500, you must deposit it. However, if you deposited the tax for the year in full and on time, you have until February 11 to file the return.

February 11

Nonpayroll taxes: File Form 945 to report income tax withheld for 2007 on all nonpayroll items. This due date applies only if you deposited the tax for the year in full and on time.

Social security, Medicare, and withheld income tax: File Form 941 for the fourth quarter of 2007. This due date applies only if you deposited the tax for the quarter in full and on time.

Certain small employers: File Form 944 to report social security and Medicare taxes and withheld income tax for 2007. This due date applies only if you deposited the tax for the year in full and on time.

Farm employers:File Form 943 to report social security and Medicare taxes and withheld income tax for 2007. This due date applies only if you deposited the tax for the year in full and on time.

Federal unemployment tax: File Form 940 for 2007. This due date applies only if you deposited the tax for the year in full and on time.

February 15

Social security, Medicare, and withheld income tax: If the monthly deposit rule applies, deposit the tax for payments in January.

Nonpayroll withholding: If the monthly deposit rule applies, deposit the tax for payments in January.

February 16

All employers: Begin withholding income tax from the pay of any employee who claimed exemption from withholding in 2007, but did not give you a new Form W-4 to continue the exemption this year.

February 28

Payers of gambling winnings: File Form 1096, Annual Summary and Transmittal of U.S. Information Returns, along with Copy A of all the Forms W-2G you issued for 2007. If you file Forms W-2G electronically (not by magnetic media), your due date for filing them with the IRS will be extended to March 31.

The due date for giving the recipient these forms remains January 31.

February 29

All employers: File Form W-3, Transmittal of Wage and Tax Statements, along with Copy A of all the Forms W-2 you issued for 2007.

If you file Forms W-2 electronically, your due date for filing them with the SSA will be extended to March 31. The due date for giving the recipient these forms remains January 31.

Large food and beverage establishment employers: File Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips. Use Form 8027-T, Transmittal of Employer's Annual Information Return of Tip Income and Allocated Tips, to summarize and transmit Forms 8027 if you have more than one establishment.

If you file Forms 8027 electronically (not by magnetic media), your due date for filing them with the IRS will be extended to March 31.

March 17

Social security, Medicare, and withheld income tax: If the monthly deposit rule applies, deposit the tax for payments in February.

Nonpayroll withholding: If the monthly deposit rule applies, deposit the tax for payments in February.

March 31

Electronic filing of Forms W-2: File Copy A of all the Forms W-2 you issued for 2007. This due date applies only if you electronically file (not by magnetic media). Otherwise, see February 29. The due date for giving the recipient these forms remains January 31.

Electronic filing of Forms W-2G: File copies of all the Forms W-2G you issued for 2007. This due date applies only if you electronically file (not by magnetic media). Otherwise, see February 28. The due date for giving the recipient these forms remains January 31. For information about filing Forms W-2G electronically, see Publication 1220, Specifications for Filing Forms 1098, 1099, 5498 and W-2G Electronically or Magnetically.

Electronic filing of Forms 8027: File Forms 8027 for 2007. This due date applies only if you electronically file (not by magnetic media). Otherwise, see February 29.

Tax Tip

For Individuals:

MAXIMIZE EXEMPTIONS

If you support an elderly parent or other relative, you can claim an exemption for that family member if you provide more than 50% of his or her support, and that person’s gross income for the year (not including tax-free Social Security benefits, insurance proceeds, inheritances, or gifts) doesn’t exceed the personal exemption amount. Monitor the support you are providing near the end of the year if you believe you’ll be eligible for an exemption.

For Businesses:

GO GREEN AND SAVE

Make your commercial building more energy efficient. In 2007, businesses can make a special election to expense the costs of making such improvements to commercial buildings.The deduction is limited to $1.80 per square foot. Several requirements apply.