Oakpoint Financial

2012 Tax Calendar

Weekends & Holidays:

If a due date falls on a Saturday, Sunday or legal federal holiday, the due date is automatically extended until the next business day that is not itself a legal holiday. Dates shown below are for 2012.

January:

17– Last day to pay 4th quarter estimates for the prior year unless filing return and paying balance in full by January 31, 2012.
17 – Notice sent to Terminated Vested Employees who were reported on Form 8955-SSA for plan year 2009 and plan year 2010 describing amount of account balance.
31– Last day to provide 1099s & W-2s to those people you paid during the prior year.
31– Deadline for self-employed individuals to file and to pay their tax and avoid any penalty for not making their 4^th quarter estimated tax payment.
31 – 401(k) distribution reporting due (1099-R) for 2011 distributions.

February:

15 –Deadline for employees who claim exemption from withholding to file a new Form W-4 with their employers.
15 – Deadline for financial institutions to mail out Form 1099-B, relating to sales of stock, bonds or mutual funds through a brokerage account, and Form 1099-S, relating to real estate transactions.

March:

15– Deadline for corporate tax returns (Forms 1120, 1120A, and 1120S), or to request automatic 6- month extension to file (Form 7004)
31 – If you have not called for a tax appointment, please call us to prepare your 2010 tax return.

April:

1 – Required Minimum Distribution deadline for those who attained age 70 ½ in 2011 or participants older than 70 ½ and retired in 2011.
17– Deadline to file individual tax returns (Form 1040, 1040A, or 1040EZ) or to request and Automatic Extension (Form 4868). An extension provides and extra six months to file your return. Payment of the tax is still due by April 17^th. You can submit payment for tax along with the extension form.
17– Deadline to file estate income tax or trust income tax returns (Form 1041) or to request and automatic 5-month extension of time to file (Form 7004).
17 – Last day to withdraw funds from your IRA account if you turned age 70 1/2 in 2011 and haven’t already taken a distribution for that year. For other types of plans, contact our office.
17– Last day to file your prior year’s partnership return (Form 1065) and fiduciary returns or request an automatic 5-month extension until September. Estate income tax returns (Form 1041) has an automatic extension until October 15.
17– Last day to make a retroactive contribution to a traditional IRA, Roth IRA, Health Savings Account, SEP-IRA or Solo 401(k) for the 2011 tax year. (However, if you get an extension, you will have until October 17^th to fund a SEP-IRA or Solo 401(k).)
17– 1^st Quarter Estimated Tax Payment is due for 2012 tax year.
17 – Deadline to file partnership tax returns (Form 1065) or to request an automatic 5-month extension of time to file (Form 7004).
17– Final deadline to file amended tax return (Form 1040X) for tax year 2008 and still claim a tax refund. (Be sure to mail the amended return well before April 17^th to make sure your tax refund will be processed in a timely manner. Be sure you obtain proof of mailing, such as a certified mail receipt).
17– Final deadline for estates, trusts, or partnerships to file an amended tax return and still claim refund for the year 2008.

May

16 – Deadline for non-profit organizations to file information returns (Form 990), or request and extension (Form 8868).

June:

15– 2^nd Quarter Estimated Tax Payment is due for 2012 tax year.
15– Last day for U.S. Citizens living abroad to file their individual tax return (Form 1040) or request an extension (Form 4868).

July:

2– Time to review your 2012 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties.
28 – Summary of any material modifications to retirement plan.
31 – Form 5500 or Form 5558 need to be filed with DOL for the prior plan year.
31 – Deadline to obtain a qualified account’s plan audit report as an attachment to Form 5500 if there are more than 100 eligible participants, unless Form 5558 is filed for an extension.

August:

1– Last day for employers (including self-employed individuals) to file appropriate Series 5500 Form for Employee Benefit Plans (includes Keogh Plans).
15 – Form 5500 due for tax-exempt employers.

September:

17– 3^rd Quarter estimated tax Payment is due for 2012 tax year.
17 – Last day to file partnership tax returns (Form 1065) if an extension was requested.
17 – Last day to file trust income tax returns (Form 1041) if an extension was requested.
17 – Last day to file corporate tax return (Form 1120, 1120A, or 1120S) if an extension was requested.

October:

2 – Earliest date to send out Safe Harbor Notices if applicable for the following plan year.
2 – Earliest date to send automatic enrollment notices for the following plan year.
5 – Last day to file prior year’s individual tax return (Form 1040), if you are in the United States with an approved extension.
15– Last day to fund a SEP-IRA or Solo 401(k) for tax year 2011 if an extension was requested.

December:

1– Time for Year-End Tax Planning
1 – Deadline to send out QDIA notices for following plan year.
1 – Deadline to send out Safe Harbor Notices for following plan year.
1 – Deadline to send out automatic enrollment notices for following plan year.
31– Last day to pay deductible expenses for the 2011 return (doesn’t apply to IRA, SEP or Keogh contributions, all of which can be made after December 31, 2011).
31 – If you turned 70½ before 2011, last day to withdraw required minimum distribution from your Traditional IRA and avoid a penalty.
31– If you are self-employed, December 31 is the last day to set up a Keogh Retirement Account if you plan to make a 2011 Contribution.
31 – Technically the last day of the year. However, if it falls on a non-business day such as a Saturday or Sunday, you may not be able to take the recommended actions and should consider taking the actions earlier than December 31st.