Calendar: February 2008
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Holiday
February 2008
Events Compliance
Wed January 30, 2008
Payroll Compliance
Deposit social security, Medicare, and withheld income tax for payments on January 23, 24, and 25 if semi-weekly depositor.
Thu January 31, 2008
Payroll Compliance
Last day to furnish Form W-2, Wage and Tax Statement, to employees to report wages, allocated tips, and amounts withheld from wages in 2007. If an employee agreed to receive Form W-2 electronically, have it posted on a website and notify the employee of the posting. (Retired employees should be given Form 1099-R.)

Annual information returns on Forms 1099 must be provided to recipients of dividends, interest, patronage dividends, government payments, rent, or other business payments in 2007 of more than $600 if no W-2 is required.

If you either paid reportable gambling winnings or withheld income tax from gambling winnings you paid in 2007, give the winners Form W-2G.

Last quarterly return (Form 941) must be filed by employers to report social security, Medicare, and withheld income tax for the fourth quarter of 2007. Deposit or pay any undeposited tax under the accuracy of deposit rules. If the tax liability is less than $2,500, it can be paid in full with a timely filed return. (Employers that deposited all of the tax when due have until February 11 to file Form 941.)

File Form 945 to report income tax withheld for 2007 on all nonpayroll items, including backup withholding and withholding for pensions, annuities, and gambling winnings. Deposit or pay any undeposited tax under the accuracy of deposit rules. If the tax liability is less than $2,500, it can be paid in full with a timely filed return. (Employers that deposited all of the tax when due have until February 11 to file Form 945.)

Certain small employers must file Form 944 to report social security and Medicare taxes, and withheld income tax for 2007. Deposit or pay any undeposited tax under the accuracy of deposit rules. If the tax liability is $2,500 or more for 2007 but less than $2,500 for the fourth quarter, deposit any undeposited tax or pay it in full with a timely filed return. (Employers that deposited all of the tax when due have until February 11 to file Form 944.)

Agricultural employers must file Form 943 to report social security, Medicare, and withheld income tax for 2007. Deposit or pay any undeposited tax under the accuracy of deposit rules. If the tax liability is less than $2,500, it can be paid in full with a timely filed return. (Employers that deposited all of the tax when due have until February 11 to file Form 943.)

Employers must file Form 940 to report annual Federal Unemployment Tax Act (FUTA) tax for 2007. If your undeposited tax is $500 or less, you can either pay it with your return or deposit it. If it is more than $500, you must deposit it. (Employers that deposited all of the tax when due have until February 11 to file Form 940.)

Shortfall deposits by semi-weekly depositors for deposits made January 2 to 4 for 2007 liabilities.

Shortfall deposits or payments by monthly depositors for deposits made November 15, 2007, December 17, 2007, and January 15, 2008.
Fri February 01, 2008
Payroll Compliance
Deposit social security, Medicare, and withheld income tax for payments on January 26, 27, 28, and 29 if semi-weekly depositor.
Wed February 06, 2008
Payroll Compliance
Deposit social security, Medicare, and withheld income tax for payments on January 30 and 31, and February 1 if semi-weekly depositor.
Fri February 08, 2008
Payroll Compliance
Deposit social security, Medicare, and withheld income tax for payments on February 2, 3, 4, and 5 if semi-weekly depositor.
Mon February 11, 2008
Payroll Compliance
File Form 941 to report social security, Medicare, and withheld income tax for the fourth quarter of 2007. Only for employers that deposited the tax in full and when due.

File Form 945 to report income tax withheld on nonpayroll items for 2007. Only for businesses that deposited the tax in full and when due.

File Form 944 (applies to certain small employers) to report social security, Medicare, and withheld income tax for 2007. Only for employers that deposited the tax in full and when due.

Agricultural employers file Form 943 to report social security, Medicare, and withheld income tax for 2007. Only for employers that deposited the tax in full and when due.

File Form 940 for 2007. Only for employers that deposited the tax in full and when due.
Wed February 13, 2008
Payroll Compliance
Deposit social security, Medicare, and withheld income tax for payments on February 6, 7, and 8 if semi-weekly depositor.
Fri February 15, 2008
Payroll Compliance
Deposit social security, Medicare, and withheld income tax for payments on February 9, 10, 11, and 12 if semi-weekly depositor.

Deposit social security, Medicare, and withheld income tax for payments in January if monthly depositor.

For nonpayroll withholding: If the monthly deposit rule applies, deposit the tax for payments in January.

Shortfall deposits by semi-weekly depositors for 2007 deposits made January 3 to 31.
Sat February 16, 2008
Payroll Compliance
All employees who claimed exemption from income tax withholding in 2007 must submit a new Form W-4 to continue to claim the exemption from income tax withholding in 2008.
Thu February 21, 2008
Payroll Compliance
Deposit social security, Medicare, and withheld income tax for payments on February 13, 14, and 15 if semi-weekly depositor.
Fri February 22, 2008
Payroll Compliance
Deposit social security, Medicare, and withheld income tax for payments on February 16, 17, 18, and 19 if semi-weekly depositor.
Wed February 27, 2008
Payroll Compliance
Deposit social security, Medicare, and withheld income tax for payments on February 20, 21, and 22 if semi-weekly depositor.
Thu February 28, 2008
Payroll Compliance
Payers of gambling winnings must file Copy A of Forms W-2G issued for 2007, together with transmittal Form 1096 for paper filings, or Form 4804 for magnetic media filings, with the IRS. If Forms W-2G are filed electronically (not by magnetic media), the due date for filing them with the IRS is March 31.

File annual Forms 1099 series returns issued for 2007, together with transmittal Form 1096 for paper filings, or Form 4804 for magnetic media filings, with the IRS. If annual Forms 1099 series returns issued for 2007 are filed electronically (not by magnetic media), the due date for filing them with the IRS is March 31.
Fri February 29, 2008
Payroll Compliance
Deposit social security, Medicare, and withheld income tax for payments on February 23, 24, 25, and 26 if semi-weekly depositor.

File Copy A of all the Forms W-2 issued for 2007, together with transmittal Form W-3 for paper filings with the Social Security Administration. If Forms W-2 are filed electronically, the due date for filing them with the Social Security Administration is March 31.

Large food and beverage establishments must file the annual report of allocated tips on Form 8027. Form 8027-T is to be filed to summarize and transmit Forms 8027 where allocated tips are being reported for more than one establishment. If Forms 8027 are filed electronically (not by magnetic media), the due date for filing them with the IRS is March 31.