The usual employer tax deadlines continue through the month for paying over tax payments to the IRS.
Other tax deadlines this month include:
August 10 – Employees must report to their employer all tips for July if they total more than $20.
As this is a quiet month for tax deadlines you may want to start preparing for some September deadlines. These include:
- Individuals paying third estimated tax payment for 2012
- Partnerships filing form 1065 if they have an extension
- Corporations and S-Corporations filing forms 1120 and 1120S if they have an extension
For the Partnership tax return 1065 and the Corporation tax returns 1120 and 1120S you may wish to start making arrangements with your tax preparer or accountant so that these returns can be completed before the deadlines.
For individuals who have had a big change in their circumstances this year such as big increase in income or change in deductions or exemptions it may be worth getting your tax preparer to check if you need to start making estimated tax payments.
Posted by Mark Smith an accountant and tax preparer with over 28 years accounting and tax experience. He is the owner of Cranmere Accounting and Tax Services LLC. He can be contacted on (480) 363-4808 or by email at firstname.lastname@example.org if you need assistance with any of the above.
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.