Employers: Don't Miss the January 31 Deadline
Posted on Tue, Jan 31, 2012
January 31 is an important deadline for many small business owners. It's the due date for the following items:
- W-2s. Postmark and mail W-2s by today. Double-check the employee addresses, and be on the lookout for missing information. Form W-3, the Transmittal of Wage and Tax Statements, is due by Feb. 29, 2012.
- 1099-MISC. Furnish 1099-MISC to any contractors you paid $600 or more. Form 1096, the transmittal of 1099s to the IRS, is due Feb. 28, 2012.
- Form 941. File the Employer's Quarterly Federal Tax Return for the fourth quarter, and pay any non-deposited income tax, Social Security and Medicare payroll taxes.
- Form 940. File the Employer's Annual Federal Unemployment (FUTA) Tax Return, and pay any tax due through December 2011. (Consult Frequently Asked Questions about the 2011 Form 940 for more info.)
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This content is provided by Patriot Software, Inc., developer of online payroll software and other small business software solutions for small businesses. For more information, visit www.PatriotSoftware.com.