Can you believe 2015 is almost over? The end of the year brings a number of due dates with the IRS for your business. Here’s a summary:
January 15 – Final estimated tax payment for 2015 due for form 1040-ES.
January 15 – December payroll taxes due.
February 1 – 1099 and W2 forms due to recipients.
February 1 – FUTA tax payment due for 2015.
February 16 – Get a new W4 form from employees who claimed exempt from tax withholding for 2015. If a new form is not received for 2016, begin withholding taxes on their next paycheck.
February 29 – 1096 with 1099 copies due to the IRS.
February 29 – Form W3 with copy A of W2 forms due to IRS.
March 31 – W2 copies due to Social Security Administration.
Note: If you are using electronic filing services with your payroll service, the W2 copies are automatically submitted to the Social Security Administration.
The IRS has set the 2016 mileage rate at 54 cents per mile. Read more.
Need help filing your 1099s and closing out your accounting year? Don’t delay. Get in touch.