Here is a rundown of some common filing deadlines (beyond annual income tax filings) SSF clients and anyone who pays taxes should keep in mind. Please note the relevant deadlines and for those we assist you on, please submit your information ASAP this upcoming tax season.
Form 1099: Payments to Unincorporated Businesses
If your trade or business makes payments for the following items to any unincorporated business or individual, in the amounts as specified below, a Form 1099 is required:
- Subcontractors or others providing services – $600 or more.
- Rents and commissions – $600 or more.
- Certain rental property expenses (for persons receiving rental income from real estate) – $600 or more.
- Royalties – $10 or more.
- Interest or dividends – $10 or more.
- Pension/profit-sharing plans – $10 or more.
- Direct sales of consumer products of at least $5,000 to a buyer for resale anywhere other than a permanent retail establishment.
- Payments made to all providers of medical and health care services of at least $600 must be reported regardless of whether the recipient is a professional corporation.
- Payments made to all attorneys of at least $600 must be reported regardless of whether the recipient is a professional corporation.
Starting in 2020, Form 1099-NEC is used to report payments related to Non-Employee Compensation, which was previously reported on Form 1099-MISC.
If your rental real estate activity rises to the level of a trade or business, please contact our office to discuss 1099 filing matters
Form 1099 Deadlines
- Information is due to SSF by January 10, 2023.
- Information is due to recipients/agency by January 31, 2023.
Form 3921 Incentive Stock Options
Every corporation that transfers to any person a share of stock pursuant to an exercise of an incentive stock option described in section 422(b) must, for that calendar year, file Form 3921 for each transfer made.
Form 3921 Deadlines
- Information due to SSF by January 10, 2023.
- Information due to Recipients/Agency by January 31, 2023.
Business Property Statements
California and Oregon law requires businesses to declare business personal property as of January 1st, 12:01 am to the county for which the property is located.
For California, personal property includes furniture, fixtures, office equipment, computers, machinery & equipment, tools and leasehold improvements. The property is reported on Form 571L or 571R. If your business is in the farming or agriculture industry, you may be required to file Form 571A or Form 571F. In addition, to the items listed above businesses need to declare what has been planted or removed during the year on these forms. All forms are due by April 1st of each year and are considered late if they are not filed by May 7, 2023. For 2023, forms are due on Monday, May 8, 2023, as May 7, 2023 falls on a weekend.
California Business Property Statement Deadlines
- Information due to SSF by April 1, 2023.
- Final filing deadline: May 8, 2023 (Considered delinquent if filed after 05/08/23 at 5 P.M.)
For Oregon, personal property includes furniture, fixtures, equipment, floating property, and leased or rented property. Per the return “Taxable personal property includes machinery, equipment, and furniture used previously or presently in a business, including any property not currently being used, property placed in storage, property held for sale, expensed items, or items fully depreciated by federal standards.” The property is reported on Form OR-CPPR (ORS 302.290).
Oregon Business Property Statement Deadlines
- Information due to SSF by February 15, 2023.
- Final filing deadline: March 15, 2023.
Fringe Benefits and Auto Inclusion Calculations
A fringe benefit is a form of pay for the performance of services. For example, you provide an employee with a fringe benefit when you allow the employee to use a business vehicle to commute to and from work. Employers are required to include the value of certain fringe benefits as income on an employee’s Form W-2 (Wage and Tax Statement).
The fringe benefit income inclusion items may be aggregated with the employee’s salary and included in one Form W-2, or may be included in a separate Form W-2. The fringe benefit income inclusion amount is subject to payroll withholdings and the amount must be included in a payroll processed prior to the end of the year.
Please refer to the Resources/Worksheets page of our website for the 2022 Fringe Benefit Taxation Summary for further information on Fringe Benefits. This worksheet, Auto Inclusion and Fringe Benefit Template, should be used to gather the information for SSF to do the Auto Inclusion Calculation if assistance is needed.
Fringe Benefits and Auto Inclusions Deadlines
- Information is due to SSF three weeks before you process your final payroll in order to be included with the final payroll of 2022, but no later than December 15, 2022.
Thank you for your attention to these deadlines, we are here to help. Please reach out to firstname.lastname@example.org to request assistance, express concerns, or ask questions.