Monthly Archives January 2017

2016 Individual Tax Organizers are available for download by clicking here.
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Employers are required to file their W-2 and W-3 copies to the Social Security Administration by January 31 in 2017.  In the past, employers had until the end of February to file W-2s if they were paper filing and until the end of March if they were electronically filing.  Extensions of time to file W-2s and W-3s is no longer automatic.  The SSA may grant one 30 day extension in extraordinary circumstances or catastrophe.  
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The new due date for filing Forms 1099-MISC Using Box 7 is January 31, 2017.   Box 7 on Form 1099-MISC is used to report non-employee compensation payments. Other 1099-MISC forms are due by February 28, 2017 if they are paper filed or by March 31, 2017 if they are electronically filed. If you need an extension to file Form 1099-Misc, a 30-day extension must be requested by the due date of the return. Under certain hardship conditions, an additional 30-day extension can be requested. Click here for more detailed information about electronically filing Form 1099-MISC.
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IRS.gov has written the article below about concerning retirement plan balances: Leaving your job? Consider these options for your retirement plan balance: If you’re leaving your job and you have a retirement plan (other than a defined benefit (pension) plan), you generally have four options for your account balance: 1. Leave your money in the plan You may want to keep the balance in your old plan, especially if: • you like the plan’s investment options, • the plan has low fees, or • you want to move the balance to a new employer’s plan later. If your account balance
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The 4th Quarter Estimated Tax Payments are due Tuesday, January 17th, 2017.  Payments can be mailed, paid on-line, or set up for automatic transfer.  More information and the 1040-ES payment voucher can be found here.
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