December 2002

Employer’s Tax Calendar

Do you know when you have to file tax returns? To help you keep the Internal Revenue Service happy, we’ve published highlights of its tax calendar, which covers the due dates for filing tax returns and for making deposits throughout the tax year 2003. A full PDF of the calendar can be downloaded from www.irs.gov in the Forms and Publications section.

Look for Publication 509 Tax Calendars. You can find the file by doing a search by date – it was released on October 28.

The tax calendar covers:
1. Income tax you withhold from your employees’ wages or from nonpayroll amounts you pay out.
2. Social security and Medicare taxes (FICA taxes) you withhold from your employees’ wages and the social security and Medicare taxes you must pay as an employer.
3. Federal unemployment (FUTA) tax you must pay as an employer.

The primary employment tax forms you may need include:
1. Form 940 (or 940 –EZ), the Employer’s Annual Federal Unemployment (FUTA) Tax Return, due one month after the calendar year ends. Use it to report the FUTA tax you paid. Most employers can use Form 940–EZ, which is a simplified version of Form 940.
2. Form 941, the Employer’s Quarterly Federal Tax Return due one month after the calendar quarter ends. Use it to report social security and Medicare taxes and withheld income taxes on wages.
3. Form 945, Annual Return of Withheld Federal Income Tax. This form is due one month after the calendar year ends. Use it to report income tax withheld on all nonpayroll items. Nonpayroll items include Backup withholding and withholding on pensions, annuities, IRAs and gambling winnings.

First Quarter
The first quarter of a calendar year is made up of January, February and March.

January 2
Earned income credit. Stop advance payments of the earned income credit for any employee who did not give you a new Form W–5 for 2003.

January 15
Social security, Medicare, and withheld income tax. Deposit the tax for payments in December 2002.
Nonpayroll withholding. Deposit the tax for payments in December 2002.

January 31
All employers. Give your employees their copies of Form W–2 for 2002 by this date. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the year in full and on time, you have until February 10 to file the return.

Nonpayroll taxes. File Form 945 to report income tax withheld for 2002 on all nonpayroll items, including backup withholding and withholding on pensions, annuities and IRAs.
Social security, Medicare,
and withheld income tax.

File Form 941.
Federal unemployment tax. File Form 940 (or 940–EZ) for 2002.
If your undeposited tax is $100 or more, you must deposit it.

February 10
Nonpayroll taxes. File Form 945 to report income tax withheld for 2002 on all nonpayroll items. This due date applies only if you deposited the tax for the year in full and on time.
Social security, Medicare, and withheld income tax. File Form 941 for the fourth quarter of 2002.
Federal unemployment tax. File Form 940 (or 940 –EZ) for 2002.

February 18
Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in January.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in January.
All employers. Begin withholding income tax from the pay of any employee who claimed exemption from withholding in 2002, but did not give you a new Form W–4 to continue the exemption this year.

February 28
All employers. File Form W–3, Transmittal of Wage and Tax Statements, along with Copy A of all the Forms W–2 you issued for 2002. If you file Forms W–2 electronically (not by magnetic media), your due date for filing them with the SSA will be extended to March 31.

March 17
Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in February.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in February.

March 31
Electronic filing of Forms W–2. File copy A of all the Forms W–2 you issued for 2002. This due date applies only if you electronically file. Otherwise, see February 28.
Electronic filing of Forms W–2G. File copies of all the Forms W–2G you issued for 2002. This due date applies only if you electronically file. Otherwise, see February 28. For information about filing Forms 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 15
Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in March.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in March. Household employers. If you paid cash wages of $1,300 or more in 2002 to a household employee, file Schedule H (Form 1040) with your income tax return. Report any federal unemployment tax on Schedule H if you paid total cash wages of $1,000 or more in any calendar quarter of 2002 or 2003 to household employees.

April 30
Social security, Medicare, and withheld income tax. File Form 941 for the first quarter of 2003. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until May 12 to file the return.
Federal unemployment tax. Deposit the tax owed through March, if more than $100.

May 12
Social security, Medicare, and withheld income tax. File Form 941 for the first quarter of 2003. This due date applies only if you deposited the tax for the quarter in full and on time.

May 15
Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in April.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in April.

June 16
Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in May.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in May.

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

July 15
Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in June.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in June.

July 31
Social security, Medicare, and withheld income tax. File Form 941 for the second quarter of 2003. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until August 11. Federal unemployment tax. Deposit the tax owed through June if more than $100. All employers. If you maintain an employee benefit plan, such as a pension, profit-sharing or stock bonus plan, file Form 5500 or 5500–EZ for calendar year 2002. If you use a fiscal year as your plan year, file the form by the last day of the seventh month after the plan-year ends.

August 11
Social security, Medicare, and withheld income tax. File Form 941 for the second quarter of 2003.

August 15
Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in July.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in July.

September 15
Social security, Medicare, and withheld income tax.
If the monthly deposit rule applies, deposit the tax for payments in August.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in August.

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

October 15
Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in September.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in September.

October 31
Social security, Medicare, and withheld income tax. File Form 941 for the third quarter of 2003. Deposit any undeposited tax. If you deposited the tax for the quarter in full and on time, you have until November 10 to file.
Federal unemployment tax. Deposit the tax owed through September, if more than $100.

During November
Income tax withholding. Ask employees whose withholding allowances will be different in 2004 to fill out a new Form W–4.
Earned income credit. Request each eligible employee who wants to receive advance payments of the earned income credit during the year 2004 to fill out a Form W–5.
November 10
Social security, Medicare, and withheld income tax. File Form 941 for the third quarter.

November 17
Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in October.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in October.

December 15
Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in November.