Small Business Taxes & Management

To Do List -- Federal

May 12, 2008

Form 941 due for 1st Quarter 2008 if taxes deposited in full and on time.
Form 4070, employees who received $20 or more in tip income in April.

May 15, 2008

Form 990, 990-PF, 990-T due for calendar-year exempt organizations. Use Form 7004 to request an extension.
Employment tax deposits (for April, 2008) due for monthly depositors.
Form 8752 for partnerships and S corporations with a Sec. 444 election to use a tax year other than the required year.

Various

Form 8300 (statement to payer of cash of more than $10,000) must be filed with the IRS by the 15th day following the transaction.

Semi-Weekly Employment Tax Deposit Schedule for May:

2, 7, 9, 14, 16, 21, 23, 29, 30

Special Rule: Employers must deposit taxes on next banking day after date employment tax liability exceeds $100,000.

Copyright 2008 by A/N Group, Inc. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional should be sought. The information is not necessarily a complete summary of all materials on the subject.--ISSN 1089-1536

To Do List -- Federal

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