February 2019 Tax and Compliance Deadlines

It’s February, which means you’re already busy working with clients on tax year 2018 filings. Don’t forget about this month’s important tax and compliance deadlines.

In February, it’s recommended that you:

• Send reminders to individual clients who have not returned tax preparation packets or scheduled appointments.
• Review pros and cons of S corporation election with eligible corporate clients.
• Remind partnerships of March 15 return filing deadline.

Key Compliance Dates:

Friday, Feb. 1 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 26-29.

Wednesday, Feb. 6 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 30-Feb. 1.

Friday, Feb. 8 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 2-5.

Monday, Feb. 11

• Employers file Form 941, Employer’s Quarterly Federal Tax Return, for the fourth quarter of 2018 if tax for the quarter was deposited in full and on time.
• Tipped employees who received $20 or more in tips during January report them to the employer on Form 4070, Employee’s Report of Tips to Employer.
• Employers file Form 940, Employer’s Annual Federal Unemployment Tax Return, for 2018 if tax for the year was deposited in full and on time.

Wednesday, Feb. 13 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 6-8.

Friday, Feb. 15

• Monthly depositors deposit FICA and withheld income tax for January.
• Claims for 2018 exemption from income tax withholding expire; employers must begin withholding tax unless employee has submitted a new W-4 to continue exemption for 2019.
• Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 9-12.

Thursday, Feb. 21 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 13-15.

Friday, Feb. 22 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 16-19.

Wednesday, Feb. 27 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 20-22.

Thursday, Feb. 28

• Large food and beverage establishment employers file Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips; use Form 8027-T if reporting for more than one establishment. Electronic filers have until April 1.
• File information returns (other than returns for nonemployee compensation) with the IRS for payments made in 2018. Returns for nonemployee compensation were required to be filed by Jan. 31. Electronic filers have until April 1.

Intuit® ProConnect™ Resources:

• The February 2019 Calendar with filing deadlines and reminders for you and your clients
• Key Tax Facts for 2018
• 5 Key Tax Changes for Your Individual Clients in 2018

As always, visit Intuit ProConnect for more information and training resources.