2007 Tax Calendar

2007 Individual and Business Tax Calendar

January 15 2007

Fourth-quarter estimated tax payment. Your fourth-quarter estimated tax payment (using form 1040-ES) for 2006 is due. You may delay making this payment until Jan. 31 if you file your 2006 return (Form 1040) and pay any tax due by Jan. 31.
Farmers and fishermen. Make estimated 2006 payments in full using Form 1040-ES. If you do not pay your estimated tax by Jan. 16, you must file your 2006 return and pay any tax due by March 1, 2007, to avoid an estimated tax penalty.

January 31, 2007

W-2 and 1099 forms. These forms should have arrived.
Tax information you send to others. You are required to furnish Form W-2 or Form 1099 to anyone, such as an employee, a household employee or an independent contractor by this date. , mail the forms by this date. You may request an extension to file W-2 with the IRS.
Tax return due. If you missed your fourth-quarter estimated tax deadline on Jan. 16, you can still avoid a penalty if you file your tax return by this date and pay any tax due.

February 10, 2007

Employees who work for tips. If you received $20 or more in tips during January, report them to your employer. You can use Form 4070.

February 15, 2007

File new W-4 forms. If you were exempt from income-tax withholding for 2006, you must file a new Form W-4 by this date to continue your exemption for 2007.

March 1, 2007

Farmers and fishermen. If you did not make estimated tax payments for 2006, you can avoid penalties by filing your tax return and paying any tax due.

March 10, 2007

Employees who work for tips. If you received $20 or more in tips during February, report them to your employer. You can use Form 4070.

March 15, 2007

Corporations. File a 2006 calendar year income tax return (Form 1120 or 1120-A) and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe.
S Corporations. File a 2006 calendar year income tax return (Form 1120S) and pay any tax due. Provide each shareholder with a copy of Schedule K-1 (Form 1120S), Shareholder's Share of Income, Deductions, Credits, etc., or a substitute Schedule K-1. If you want an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe.
S Corporation election. File Form 2553, Election by a Small Business Corporation, to choose to be treated as an S corporation beginning with calendar year 2007. If Form 2553 is filed late, S treatment will begin with calendar year 2008.
Electing large partnerships. Provide each partner with a copy of Schedule K-1 (Form 1065-B), Partner's Share of Income (Loss) From an Electing Large Partnership, or a substitute Schedule K-1. This due date is effective for the first March 15 following the close of the partnership's tax year. The due date of March 15 applies even if the partnership requests an extension of time.

March 31, 2007

Electronic filing of Forms 1098, 1099, and W-2G. File Forms 1098, 1099, or W-2G with the IRS. This due date applies only if you file electronically (not by magnetic media). The due date for giving the recipient these forms remains January 31. For information about filing Forms 1098, 1099, or W-2G electronically, see Publication 1220, Specifications for Filing Forms 1098, 1099, 5498 and W-2G Electronically or Magnetically.

Second Quarter

The second quarter of a calendar year is made up of April, May, and June.

April 10, 2007

Employees who work for tips. If you received $20 or more in tips during March, report them to your employer. You can use Form 4070.

April 16, 2007

Tax return due. Your 2006 income-tax return is due, unless you file for an extension until Oct. 15, 2007. Note: The April 15 statutory deadline for income-tax filing falls on a Sunday. When that happens, the IRS pushes the deadline to the next business day. If you live in Connecticut, Maine, Maryland, Massachusetts, New Hampshire, New York, Vermont or the District of Columbia, you don't have to file until April 17. That's because you send your return to the IRS Service Center in Andover, Mass., which will be closed on April 16 to observe Patriots Day in Massachusetts.
File for extension. If you want an automatic extension of time to file your 2006 tax return, file Form 4868. That gives you until Oct. 15, 2007, to file your return. To avoid a penalty, pay any tax that you owe by April 16.
Individual retirement accounts or Roth IRAs. This is the deadline for making contributions to IRAs or Roth IRAs for 2006. This is also the deadline to open these accounts for 2006.
Estimated tax payment. Your first-quarter estimated tax payment for 2007 is due.
State tax returns. If you are required to file a state tax return, it is probably due, but check with your state to be certain. Many states automatically extend the filing time to those who have filed for a federal extension.
Household employers. If you paid cash wages of $1,500 or more in 2006 to a household employee, file Schedule H (Form 1040) with your income-tax return and report any employment taxes by April 16, 2007.

May 10, 2007

Employees who work for tips. If you received $20 or more in tips during April, report them to your employer. You can use Form 4070.

June 12, 2007

Employees who work for tips. If you received $20 or more in tips during May, report them to your employer. You can use Form 4070.

June 15, 2007

Filing deadline. If you're a U.S. citizen or resident alien living and working (or on military duty) outside the U.S. and Puerto Rico, file Form 1040 and pay any tax, interest and penalties due. You can file for an extension until Oct. 15, 2007.
Estimated taxes due. Your second-quarter estimated tax payment (using form 1040-ES) for 2007 is due.for the year.

Third Quarter

The third quarter of a calendar year is made up of July, August, and September.

July 10, 2007

Employees who work for tips. If you received $20 or more in tips during June, report them to your employer. You can use Form 4070.

July 15, 2007

Partnerships. File a 2006 calendar year return (Form 1065). This due date applies only if you timely requested an automatic 3-month extension. Otherwise, see April 17. Provide each partner with a copy of Schedule K-1 (Form 1065) or a substitute Schedule K-1. If you need an additional 3-month extension, file Form 8800.
Electing large partnerships. File a 2006 calendar year return (Form 1065-B). This due date applies only if you timely requested an automatic 3-month extension. If you need an additional 3-month extension, file Form 8800. See March 15 for the due date for furnishing Schedules K-1 or substitute Schedules K-1 to the partners.

August 10, 2007

Employees who work for tips. If you received $20 or more in tips during July, report them to your employer. You can use Form 4070.

September 11, 2007

Employees who work for tips. If you received $20 or more in tips during August, report them to your employer. You can use Form 4070.

September 17, 2007

Individuals. Make a payment of your 2007 estimated tax if you are not paying your income tax for the year through withholding (or will not pay in enough tax that way). Use Form 1040-ES. This is the third installment date for estimated tax in 2007. For more information, see Publication 505.
Corporations. File a 2007 calendar year income tax return (Form 1120 or 1120-A) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic 6-month extension. Otherwise, see March 15.
S corporations. File a 2007 calendar year income tax return (Form 1120S) and pay any tax due. This due date applies only if you timely requested an automatic 6-month extension. Otherwise, see March 15. Provide each shareholder with a copy of Schedule K-1 (Form 1120S) or a substitute Schedule K-1.
Corporations. Deposit the third installment of estimated income tax for 2007. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.

Fourth Quarter

The fourth quarter of a calendar year is made up of October, November, and December.

October 10, 2007

Employees who work for tips. If you received $20 or more in tips during September, report them to your employer. You can use Form 4070.

October 15, 2007

Individuals. File a 2007 income tax return and pay any tax, interest, and penalties due if you were given an additional 2-month extension.
Partnerships. File a 2007 calendar year return (Form 1065). This due date applies only if you were given an additional 3-month extension. Provide each partner with a copy of Schedule K-1 (Form 1065) or a substitute Schedule K-1.
Electing large partnerships. File a 2007 calendar year return (Form 1065-B). This due date applies only if you were given an additional 3-month extension. See March 15 for the due date for furnishing Schedules K-1 or substitute Schedules K-1 to the partners.

November 13, 2007

Employees who work for tips. If you received $20 or more in tips during October, report them to your employer. You can use Form 4070

December 11, 2007

Employees who work for tips. If you received $20 or more in tips during November, report them to your employer. You can use Form 4070

December 15, 2007

Corporations. Deposit the fourth installment of estimated income tax for 2007. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.

Fiscal-Year Taxpayers

If you use a fiscal year (rather than the calendar year) as your tax year, you should change some of the dates in this calendar. Use the following general guidelines to make these changes.

Tip

The 3 months that make up each quarter of a fiscal year may be different from those of each calendar quarter, depending on when the fiscal year begins.
Individuals

Form 1040.    This form is due on the 15th day of the 4th month after the end of your tax year.

Estimated tax payments (Form 1040-ES).   Payments are due on the 15th day of the 4th, 6th, and 9th months of your tax year and on the 15th day of the 1st month after your tax year ends.

Partnerships

Form 1065.   This form is due on the 15th day of the 4th month after the end of the partnership's tax year. Provide each partner with a copy of Schedule K-1 (Form 1065) or a substitute Schedule K-1.

Form 1065-B (electing large partnerships).   This form is due on the 15th day of the 4th month after the end of the partnership's tax year. Provide each partner with a copy of Schedule K-1 (Form 1065-B) or a substitute Schedule K-1 by the first March 15 following the close of the partnership's tax year.

Corporations and S Corporations

Form 1120 and Form 1120S (or Form 7004).   These forms are due on the 15th day of the 3rd month after the end of the corporation's tax year. S corporations must provide each shareholder with a copy of Schedule K-1 (Form 1120S) or a substitute Schedule K-1.

Estimated tax payments.   Payments are due on the 15th day of the 4th, 6th, 9th, and 12th months of the corporation's tax year.

Form 2553.   This form is used to choose S corporation treatment. It is due by the 15th day of the 3rd month of the first tax year to which the choice will apply or at any time during the preceding tax year.