BENEFIT PLAN DEADLINE (12/31 year end): Prospective amendment to add or remove safe harbor status for 2024 Prospective amendment to add an automatic enrollment to plan (QACA & EACA) (For 2024) Required minimum distribution date under IRC 401(a)(9) Corrective distribution for failed ADP/ACP test with 10% excise tax or QNEC contribution For additional information on these … Continued
INDIVIDUALS: Make a payment of your estimated tax for 2023 if you didn't pay your income tax for the year through withholding (or didn't pay in enough tax that way). Use Form 1040-ES. This is the final installment date for 2023 estimated tax payments. However, you don't have to make this payment if you file … Continued
Please join Belfint, Lyons & Shuman, CPAs for an informative webinar on the Corporate Transparency Act, SECURE 2.0 as it relates to tax planning, and other critical developments that affect businesses, individuals, estates, and trusts. In an era marked by constant regulatory evolution and an increased focus on transparency and security, it is imperative to … Continued
BENEFIT PLAN DEADLINE (12/31 year end): Form 1099-R due to participants who received distribution in 2023. Form W-2 due to report employee’s active participant status for 2023. For additional information on these deadlines or our employee benefit plan audit services, please click here to contact us.
ALL EMPLOYERS: All employers must have distributed 2023 W-2 forms to their employees and Form 1099s to their proper recipients. BUSINESSES: Give annual information statements to recipients of certain payments you made during 2023. You can use the appropriate version of Form 1099 or other information return. Form 1099 can be issued electronically with the consent of … Continued
INDIVIDUALS: If you claimed exemption from income tax withholding last year on the Form W-4, Employee’s Withholding Allowance Certificate, you gave your employer, you must file a new Form W-4 by this date to continue your exemption for another year. For additional information on these deadlines or our tax services, please click here to contact … Continued
Businesses: Give annual information statements to recipients of certain payments you made during 2023. You can use the appropriate version of Form 1099 or other information return. Form 1099 can be issued electronically with the consent of the recipient. This due date applies only to the following types of payments. All payments reported on … Continued
Businesses: File information returns (for example, certain Forms 1099) for certain payments you made during 2023. These payments are described under January 31, earlier. However, Form 1099-NEC reporting nonemployee compensation must be filed by January 31. There are different forms for different types of payments. Use a separate Form 1096 to summarize and transmit the … Continued
S-CORPORATIONS: File a 2023 calendar year income tax return (Form 1120S) and pay any tax, interest, and penalties due. Provide each shareholder with a copy of their final or amended Schedule K-1 (Form 1120S) or substitute Schedule K-1 (Form 1120S). S-CORPORATION ELECTIONS: File Form 2553 to elect to be treated as an S corporation beginning with calendar year … Continued
BENEFIT PLAN DEADLINE (12/31 year end): Corrective distribution for failed ADP/ACP without 10% excise tax is due (non EACAs only). Eligible Automatic Contribution Arrangements (EACAs) have until June 30, 2024 to make corrective contributions without a 10% excise tax. For additional information on these deadlines or our employee benefit plan audit services, please click here to contact us.