After the stress of busy season, we sometimes forget in the heat of the summer that there are still important tax-related deadlines that occur. Below are some of the common deadlines that hit during the heart of the summer months (3rd quarter of 2019). Businesses can face penalties and interest if they fail to file and meet these deadlines.
- Form 941 for the second quarter of 2019: You must report income tax withholding and FICA taxes and pay any tax due. However, there is an exception to this deadline. If you have deposited on time and in full, the associated taxes due for the second quarter, the filing date can be pushed back to August 12.
- Form 5500 or Form 5500-EZ: For those businesses with an Employee Benefit Plan there are annual reporting requirements set forth by the DOL. Businesses must file a 2018 calendar-year retirement plan report by July 31. This deadline can also be extended, but you must request an extension. The extension deadline would then be October 15.
- Third Installment of 2019 Estimated Tax Due: For calendar-year C Corporations, the third installment for estimated income taxes is due. This can cause penalties on the 2019 Tax Return if not paid timely.
- 2018 Income Tax Return: This deadline is very important for any calendar-year S Corporation and Partnership/LLC that filed for an automatic six-month extension. The six-month extension is until September 16. All returns must be filed, tax due paid, along with any interest and penalties owed.
- Contributions for 2018 Employer-Sponsored Retirement Plans: Any contributions to an employer-sponsored retirement plan would be due for any S-corporation or Partnership/LLC that filed the automatic six-month extension.
If you have any questions on these deadlines or wonder if there are other ones to be aware of, please contact your Wegner Tax Professional.