January 3 – Time to Call For Your Tax Appointment
January is the beginning of tax season. If you have not made an appointment to have your taxes prepared, we encourage you do so before the calendar becomes too crowded.
January 10 – Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during December, you are required to report them to your employer on IRS Form 4070 no later than January 10.
January 18 – Farmers & Fishermen Estimated Tax Payment Due
If you are a farmer or fisherman whose gross income for 2009 or 2010 is two-thirds from farming or fishing, it is time to pay your estimated tax for 2010 using Form 1040-ES. You have until April 18, 2011 to file your 2010 income tax return (Form 1040). If you do not pay your estimated tax by January 18, you must file your 2010 return and pay any tax due by February 28, 2011 to avoid an estimated tax penalty. Generally, this due date is January 15, but when the due date falls on a Saturday, Sunday or federal legal holiday, it is not due until the next business day.
January 18 – Individual Estimated Tax Payment Due
It’s time to make your fourth quarter estimated tax installment payment for the 2010 tax year. Generally, this due date is January 15, but when the due date falls on a Saturday, Sunday or federal legal holiday, it is not due until the next business day.
January 31 – File 2010 Return to Avoid Penalty for Not Making 4th Quarter Estimated Payment
If you file your prior year’s return and pay any tax due by this date, you need not make the 4th Quarter Estimated Tax Payment (January calendar).