March 2020 Tax and Compliance Deadlines

While you’re filing returns and setting up extensions for tax year 2019, don’t forget to let your clients know about important tax and compliance deadlines for March 2020.

In March, it’s recommended that you:

• File extensions for individuals who have not met your deadline for return preparation.
• Remind individual clients of their April 15 estimated tax payment.
• File extensions for S corporations or partnerships that will not meet the March 15 filing deadline.

Key Compliance Dates:

Monday, March 2:

• Large food and beverage establishment employers file Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips; use Form 8027-T, Transmittal of Employer’s Annual Information Return of Tip Income and Allocated Tips if reporting for more than one establishment. Electronic filers, see March 31.
• File information returns (other than returns for nonemployee compensation) with the IRS for payments made in 2019. Returns for nonemployee compensation were required to be filed by Jan. 31. Electronic filers have until March 31.

Wednesday, March 4 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 26-28.

Friday, March 6 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 29-March 3.

Tuesday, March 10 – Tipped employees who received $20 or more in tips during February report them to the employer on Form 4070, Employee’s Report of Tips to Employer.

Wednesday, March 11 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 4-6.

Friday, March 13 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 7-10.

Monday, March 16

• Monthly depositors deposit FICA and withheld income tax for February.
• Calendar-year S corporations file 2019 income tax return on Form 1120S, U.S. Income Tax Return for an S Corporation; alternatively, file for an automatic six-month extension.
• Calendar-year partnerships file 2019 information return (Form 1065, U.S. Return of Partnership Income); alternatively, file for an automatic six-month extension (Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns).

Wednesday, March 18 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 11-13.

Friday, March 20 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 14-17.

Wednesday, March 25 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 18-20.

Friday, March 27 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 21-24.

Tuesday, March 31:

• File information returns (other than returns for nonemployee compensation) if filing electronically.
• Large food and beverage establishments file Form 8027 if filing electronically.

Intuit® ProConnect™ Resources:

• The March 2020 Calendar with filing deadlines and reminders for you and your clients.
• Key Tax Facts for 2019.
• Key Tax Developments for 2019.

As always, visit Intuit ProConnect for more information and training resources.