March 2018 Tax and Compliance Deadlines

There’s no doubt you’re knee-deep in working on tax returns for your individual and business clients. Please don’t forget about this month’s important tax and compliance deadlines:

In March, it is recommended that you:

• File extensions for individuals who have not yet met your deadline for return preparation.
• Remind individual clients of their April 16 estimated tax payment.
• File extensions for S corporations or partnerships that will not meet the March 15 filing deadline.

Key Compliance Dates:

Friday, March 2 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 24-27.

Wednesday, March 7 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 28-March 2.

Friday, March 9 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 3-6.

Monday, March 12 – Tipped employees who received $20 or more in tips during February report them to the employer on Form 4070, Employee’s Report of Tips to Employer.

Wednesday, March 14 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 7-9.

Thursday, March 15:

• Monthly depositors deposit FICA and withheld income tax for February.
• Calendar-year S corporations file 2017 income tax return on Form 1120S, U.S. Income Tax Return for an S Corporation; alternatively, file for an automatic six-month extension.
• Calendar-year partnerships file 2017 information return (Form 1065, S. Return of Partnership Income); alternatively, file for an automatic six-month extension (Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns).

Friday, March 16 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 10-13.

Wednesday, March 21 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 14-16.

Friday, March 23 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 17-20.

Wednesday, March 28 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 21-23.

Friday, March 30 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 24-27.

Intuit® ProConnect™ Resources:

• The March 2018 Calendar with filing deadlines and reminders for you and your clients
• Key Tax Facts for 2017
• New Tax Developments for 2017 and Beyond

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