Tax Return Preparation

Here’s when you need to file what to meet Internal Revenue Service requirements.
Use this calendar to make sure you file your tax returns any extensions on time.

Dec. 31, 2006
Deduction deadline. The last date to make payments that can be deducted from your 2006 tax return.

Keogh plan deadline. The last date to establish a Keogh plan so you can deduct a Keogh contribution on your 2006 tax return.

Jan. 16, 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 tax 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 tax return and pay any tax due by March 1, 2007, to avoid an estimated tax penalty.

Jan. 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.

Feb. 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 15, 2007
Corporations. File a 2006 calendar year income-tax return (Form 1120 or 1120-A) and pay any tax due. You can apply for an automatic six-month extension with Form 7004. If you file for an extension, you must also make an estimated tax payment.

S corporations. File a 2006 calendar-year tax return (Form 1120S) and pay any tax due. Send each shareholder a copy of Schedule K-1 (Form 1120S) or a substitute Schedule K-1. You can apply for an automatic six-month extension with Form 7004, but you must pay any tax due.

S corporation election. File Form 2553 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). This due date is effective for the first March 15 after the close of the partnership’s tax year and applies even if the partnership seeks an extension of time.

April 17, 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 typically pushes the deadline to the next business day. But April 16 is a holiday, Emancipation Day, in Washington, D.C., so the agency has pushed the deadline back to April 17. The new deadline applies to the entire country.

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 tax return. To avoid a penalty, pay any tax that you owe by April 17.

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 17, 2007.

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.

Sept. 17, 2007
Estimated tax due. Your third-quarter estimated tax payment (using form 1040-ES) for 2007 is due.

Oct. 15, 2007
Income tax return due. Your 2006 income-tax return is due if you filed an extension request using Form 4868.

Dec. 31, 2007
Deduction deadline. The last date to make payments that can be deducted from your 2007 tax return.

Keogh plan deadline. The last date to establish a Keogh plan so you can deduct a Keogh contribution on your 2007 tax return.
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