Key Tax Deadlines – June 2013

The usual employer tax deadlines continue through the month for paying over tax payments to the IRS. If you have been paying quarterly remember to check each quarter that you are still eligible to do so. The test only goes back one quarter. Also, check your state withholding rules as many of these need to be checked on a monthly basis.

Other tax deadlines this month include:

June 10 – Employees must report to their employer all tips for May if they total more than $20.
June 17 – Second 2013 estimated tax installment is due. Even if you did not need to do the first installment check if a change in your circumstances requires you to start now. For example, your business profits have increased, you sold an asset for a large gain or you won a prize.
June 17 – If you were out of the US on April 15, 2013 this is the deadline to file your 2012 1040 tax return. If you are still not ready, file form 4868 by this date to get an automatic extension to October 15, 2013.
June 17 – If you are a US Non-resident reporting income such as rental income this is the deadline to file your 2012 1040NR tax return. If you are still not ready, file form 4868 by this date to get an automatic six month extension to December 16, 2013.
June 30 – Form TD F 90-22.1, otherwise known as the FBAR needs to be filed with the US Treasury. This is the form for US citizens and green card holders to report their foreign accounts. There are substantial penalties for not filing this form. Also, unlike most tax returns the deadline is the date the form needs to be at the US Treasury, not the last day you can mail it. This is the last year that the FBAR can be mailed in. Starting next year it will need to be e-filed.

Disclaimer – This article does not constitute personal tax advice to the reader and is only offering general information. You should seek professional advice for your own situation as the most appropriate tax planning depends on your personal and unique circumstances.

Posted By Mark Smith

Mark Smith, EA is an Enrolled Agent and accountant with over 30 years tax and accounting experience. He is the owner of Cranmere Accounting and Tax Services LLC. He can be contacted on (480) 363-4808 or by email at if you need assistance with any of the above.

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