Events

Businesses: File information returns (for example, certain Forms 1099) for certain payments you made during 2024. 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

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, 2025 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.

Form 1042 is due. An automatic 6-month extension using Form 7004 can be filed. This is NOT an extension to pay.  Form 3520-A is due for calendar year foreign trusts with a US owner. An automatic 6-month extension is available, using Form 7004.  Form 8804 must be filed to report withholding tax on income from … Continued

S-CORPORATIONS: File a 2024 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): Required Minimum Distribution (RMD) beginning date for 5% owners and terminated participants who turned 72 in 2024. This deadline applies only to the first RMD. Subsequent RMDs must be made by December 31 of each year  For additional information on these deadlines or our employee benefit plan audit services, please click here to contact … Continued