ACR Financial Services, Taxes, Investments,

April 2021

10- Employees with tips	If you received $20 or more in tips during March, report them to your employer. You can use Form 4070 Employees Report of Tips to Employer.
15- Individuals	File an income tax return (Form 1040, 1040A, or 1040EZ) and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return, or you can get an extension by phone if you pay part or all of your estimate of income tax due with a credit card. Then file Form 1040, 1040A, or 1040EZ by October 15
15- Household employers	If you paid cash wages of $1,900 or more in the previous year to a household employee, file Schedule H (Form 1040) with your income tax return and report any employment taxes. Report any federal unemployment (FUTA) tax on Schedule H if you paid total cash wages of $1,000 or more in any calendar quarter of the previous 2 years to household employees. Also report any income tax you withheld for your household employees.
15- Individuals	If you are not paying your current year income tax through withholding (or will not pay in enough tax during the year that way), pay the first installment of your current estimated tax. Use Form 1040-ES.
15- Employers	Nonpayroll Withholding. If the monthly deposit rule applies, deposit the tax for payments in March.
15- Employers	Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in March.
15- Corporations	Deposit the first installment of your estimated income tax for current year. A worksheet, Form 1120-W, is available to help you estimate your tax for the year
15- Electing large partnerships	File a previous calendar year return (Form 1065). Provide each partner with a copy of Schedule K-1 (Form 1065), Partners Share of Income, Deductions, Credits, etc., or a substitute Schedule K-1. If you want an automatic 5-month extension to file the return and provide Schedule K-1 or a substitute Schedule K-1, file Form 7004. Then, file Form 1065 by September 15.
30- Employers	Social Security, Medicare, and withheld income tax. File form 941 for the first quarter of current year. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until May 10 to file the return.
30- Employers	Federal Unemployment Tax. Deposit the tax owed through March if more than $500.

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