March 2018: Employer’s business tax calendar

NOTE: Saturdays, Sundays and legal holidays as observed in the District of Columbia are taken into account to determine due dates. Under the federal deposit rules, you’re allowed a deposit shortfall of the greater of $100 or 2% of your tax liability.

Semiweekly and monthly deposits are for the deposits of FICA and withheld income taxes due on wages paid during the time periods indicated.

March 2

Semiweekly deposit for wages paid on Feb. 24, 25, 26 and 27.

March 7

Semiweekly deposit for wages paid on Feb. 28, March 1 and 2.

March 9

Semiweekly deposit for wages paid on March 3, 4, 5 and 6.

March 12

Employees who work for tips. If employees received $20 or more in tips during February, they should report them to you on Form 4070.

March 14

Semiweekly deposit for wages paid on March 7, 8 and 9.

March 15

Monthly deposit for wages paid in February, if the semiweekly deposit rule didn’t apply.

S corporations. File Form 1120S for calendar year 2017 and pay any tax due. Provide each shareholder with Schedule K-1 (Form 1120S) or substitute schedule. File Form 7004 if you want an automatic six-month extension of time to file and deposit what you estimate is due. Then file Form 1120S and provide each partner with a copy of their K-1 by Sept. 17. Fiscal-year filers file by the 15th day of the 3rd month after the end of the tax year. File Form 2553 to choose to be treated as an S corp, beginning with calendar year 2018. If the form is filed late, S treatment begins in 2019.

Partnerships. Calendar-year partnerships file a 2017 Form 1065 and provide each partner with a copy of Schedule K-1 (Form 1065). If you want an automatic six-month extension to file the return, file Form 7004. Then file Form 1065 and provide each partner with a copy of their final or amended K-1 by Sept. 17. Fiscal-year filers file by the 15th day of the 3rd month after the end of the tax year.

Electing large partnerships. Calendar-year partnerships file a 2017 Form 1065-B. Provide each partner with Schedule K-1. If you want an automatic six-month extension to file the return, file Form 7004. Then file Form 1065-B and provide each partner with a copy of an amended K-1 by Sept. 17. Fiscal-year filers file by the 15th day of the 3rd month after the end of the tax year; partners receive Schedule K-1 by the first March 15 after the end of the tax year.

March 16

Semiweekly deposit for wages paid on March 10, 11, 12 and 13.

March 21

Semiweekly deposit for wages paid on March 14, 15 and 16.

March 23

Semiweekly deposit for wages paid on March 17, 18, 19 and 20.

March 28

Semiweekly deposit for wages paid on March 21, 22 and 23.

March 30

Semiweekly deposit for wages paid on March 24, 25, 26 and 27.