Individuals. File a 2022 Form 1040 or Form 1040-SR and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 4868 and pay what you estimate you owe in tax to avoid penalties and interest. For more information, see Form 4868. Then, file Form 1040 or Form 1040-SR by October 16.
If you’re not paying your 2023 income tax through withholding (or won’t pay in enough tax during the year that way), pay the first installment of your 2023 estimated tax. Use Form 1040-ES. For more information, see Pub. 505.
Household employers. If you paid cash wages of $2,400 or more in 2022 to a household employee, you must file Schedule H (Form 1040), Household Employment Taxes. If you’re required to file a federal income tax return (Form 1040 or Form 1040-SR), file Schedule H (Form 1040) with the return and report any household employment taxes. Report any federal unemployment (FUTA) tax on Schedule H (Form 1040) if you paid total cash wages of $1,000 or more in any calendar quarter of 2021 or 2022 to household employees. Also, report any income tax you withheld for your household employees. For more information, see Pub. 926.
Corporations. File a 2022 calendar year income tax return (Form 1120) and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe in taxes.
Deposit the first installment of estimated income tax for 2023.
Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in March.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in March.
Household employers. If you paid cash wages of $2,400 or more in 2022 to a household employee, you must file Schedule H (Form 1040). If you’re required to file a federal income tax return (Form 1040 or Form 1040-SR), file Schedule H (Form 1040) with the return and report any household employment taxes. Report any federal unemployment (FUTA) tax on Schedule H (Form 1040) if you paid total cash wages of $1,000 or more in any calendar quarter of 2021 or 2022 to household employees. Also, report any income tax you withheld for your household employees. For more information, see Pub. 926.
The articles in this blog are published with the understanding that the authors are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use.
