This week’s question comes from Julian, a sole-proprietor. After being laid-off from my job, I have decided to open my own business as a sole proprietor. Where can I find due dates for tax payments and filings? Answer: Each year, the Internal Revenue Service (IRS) releases Publication 509, Tax Calendars, for use during the following tax year.
Publication 509 Gives Due Dates for Many Items
A tax calendar is a 12-month calendar divided into quarters. The calendar gives specific due dates for the following.
- Filing tax forms.
- Paying taxes.
- Taking other actions required by federal tax law.
Publication 509 Is not Just a Tax Calendar
Though the title of Publication 509 is Tax Calendars, it includes more than just a single tax calendar. It contains:
- A section on how to use the calendars.
- A general tax calendar.
- An employer’s tax calendar.
- An excise tax calendar.
- A table showing the semi-weekly deposit due dates for 2011.
Four Advantages of Using a Tax Calendar
- You do not have to figure the due dates yourself.
- You can file or pay timely and avoid penalties.
- You do not have to adjust the due dates for Saturdays, Sundays, and legal holidays.
- You do not have to adjust the due dates for special banking rules if you use the Employer’s Tax Calendar or Excise Tax Calendar.
Vision Payroll Has Implemented the 2011 Due Dates in Its Tax Calculation Software
Contact Vision Payroll for further information on Publication 509.