April 18 - Social Security, Medicare and Withheld Income Tax If the monthly deposit rule applies, deposit the tax for payments in March. April 18 - Non-Payroll Withholding If the monthly deposit rule applies, deposit the tax for payments in March. April 18 - Corporations The first installment of 2011 estimated tax of a calendar year corporation is due. April 18 - … [Read more...] about Due Date Reminders – Business – April 2011
Due Date Reminders – Individual – April 2011
April 1 - Last Day to Withdraw Required Minimum Distribution Last day to withdraw 2010’s required minimum distribution from Traditional or SEP IRAs for taxpayers who turned 70½ in 2010. Failing to make a timely withdrawal may result in a penalty equal to 50% of the amount that should have been withdrawn. Taxpayers who became 70½ before 2010 were required to make their 2010 … [Read more...] about Due Date Reminders – Individual – April 2011
Name Changes Can Complicate Filing
If you changed your name as a result of a recent marriage or divorce, you should take the necessary steps to ensure the name on your tax return matches the name registered with the Social Security Administration (SSA). A mismatch between the name shown on your tax return and the SSA records can cause problems in the processing of your return and may even delay your … [Read more...] about Name Changes Can Complicate Filing
Tips to Avoid a Tax Audit
An IRS tax audit can come in a number of forms. The most demanding are the face-to-face audits, which require sitting down with an auditor and reconciling income and deductions. Others are the less demanding correspondence audits where the IRS has reason to believe that the taxpayer failed to include reported income or has overstated deductions. Correspondence Audits – … [Read more...] about Tips to Avoid a Tax Audit
What To Do if You Are Missing a W-2
Have you received your W-2? These documents are essential to filling out most individual tax returns. You should receive a Form W-2, Wage and Tax Statement, from all of your employers each year. Employers had until January 31st to provide or send you a 2010 W-2 earnings statement either electronically or in paper form. If you have not received your W-2, follow these … [Read more...] about What To Do if You Are Missing a W-2