NEWS & TAX UPDATES

4Q/2010 Payroll returns are due January 31, 2011. This includes Federal Forms 941 and/or 945, and the State returns Forms NYS-45, NJ-927, etc.

Employees must receive their copies of Form W-2 for 2010 by January 31, 2011.

File Forms W-2/W-3 and Forms 1099/1096 with the SSA and the IRS respectively by February 28, 2011.

Form 1120 and Form 1120S (or Form 7004 Extension).   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.

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.

NY State Sales Tax quarterly and annual filers Forms ST-100 and ST-101. The due date for the quarterly (4Q/2010) NY State Sales and Use tax returns and the Annual Sales and Use tax returns are due March 20, 2011.

Form 1040.    This form is usually due on the 15th day of the 4th month after the end of your tax year. An exception has been made by the IRS for 2011. The due date has been moved to April 18, 2011.

Adjustments for Saturday, Sunday, or legal holidays.   Generally, if a due date falls on a Saturday, Sunday, or legal holiday, the due date is delayed until the next day that is not a Saturday, Sunday, or legal holiday.