- Individuals who must make estimated tax payments. If you did not pay your last installment of estimated tax by January 15, you may choose (but are not required) to file your income tax return (Form 1040) for 2014 by February 2. Filing your return and paying any tax due by February 2 prevents any penalty for late payment of the last installment. If you cannot file and pay your tax by February 2, file and pay your tax by April 15.
- All businesses. Give annual information statements to recipients of certain payments you made during 2014. You can use the appropriate version of Form 1099 or other information return. Form 1099 can be issued electronically with the consent of the recipient. Payments that may be covered include the following.
- Cash payments for fish (or other aquatic life) purchased from anyone engaged in the trade or business of catching fish.
- Compensation for workers who are not considered employees (including fishing boat proceeds to crew members).
- Dividends and other corporate distributions.
- Payments of Indian gaming profits to tribal members.
- Profit sharing distributions.
- Retirement plan distributions.
- Original issue discount.
- Prizes and awards.
- Medical and health care payments.
- Debt cancellation (treated as payment to debtor).
- Cash payments over $10,000. See the instructions for Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business.
See the General Instructions for Certain Information Returns for information on what payments are covered, how much the payment must be before a statement is required, which form to use, when to file, and extensions of time to provide statements to the IRS.
Forms 1099B, 1099S, and certain reporting on Form 1099MISC, Miscellaneous Income, are due to recipients by February 17.
- Employees who work for tips. If you received $20 or more in tips during January, report them to your employer. You can use Form 4070.
- Individuals. If you claimed exemption from income tax withholding last year on the Form W4, Employee’s Withholding Allowance Certificate, you gave your employer, you must file a new Form W4 by this date to continue your exemption for another year.
- All businesses. Give annual information statements to recipients of certain payments you made during 2014. You can use the appropriate version of Form 1099 or other information return. Form 1099 can be issued electronically with the consent of the recipient. This due date applies only to the following types of payments.
- All payments reported on Form 1099B, Proceeds From Broker and Barter Exchange Transactions.
- All payments reported on Form 1099S, Proceeds From Real Estate Transactions.
- Substitute payments reported in box 8 or gross proceeds paid to an attorney reported in box 14 of Form 1099MISC.
Source: IRS Publication 509