January 2008 Small Business Tax Calendar - Dates and Actions

Jan 01: Stop advance payment of the Earned Income Credit for any employee not submitting a new Form W-5.

Jan 04: Deposit Payroll tax for payments on Jan 1 if the semiweekly deposit rule applies.

Jan 09: Deposit Payroll tax for payments on Jan 2-4 if the semiweekly deposit rule applies.

Jan 10: Employers: Employees are required to report to you tips of $20 or more earned during December.

Jan 11: Deposit Payroll tax for payments on Jan 5-8 if the semiweekly deposit rule applies.

Jan 15:
1) Deposit Payroll tax for Dec 2007 if the monthly deposit rule applies.
2) Individuals: Pay the final installment of your 2007 estimated tax. Use Form 1040-ES.
3) Farmers and Fishermen: Pay your estimated tax for 2007. Use Form 1040-ES.

Jan 16: Deposit Payroll tax for payments on Jan 9-11 if the semiweekly deposit rule applies.

Jan 18: Deposit Payroll tax for payments on Jan 12-15 if the semiweekly deposit rule applies.

Jan 24: Deposit Payroll tax for payments on Jan 16-18 if the semiweekly deposit rule applies.

Jan 25: Deposit Payroll tax for payments on Jan 19-22 if the semiweekly deposit rule applies.

Jan 30: Deposit Payroll tax for payments on Jan 23-25 if the semiweekly deposit rule applies.

Jan 31:
1) Furnish Forms 1098, 1099 and W-2G to recipients for certain payments made during 2007.
2) Deposit FUTA tax owed through Dec if $500 or less.
3) File Forms 940, 941, 943, 944 and/or 945, if you did not deposit all taxes when due.
4) File Form 720 for the 4th quarter of 2007.
5) File Form 730 and pay the tax on wagers accepted during Dec 2007.
6) File Form 2290 and pay the tax on vehicles first used in Dec 2007.

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