McAfee & Associates, P.C. is a West Michigan accounting based Certified Public Accounting firm. We focus on serving individuals and small businesses with unique knowledge, education, income tax, estate, gift and business tax planning and compliance.
We narrowed down our focus to include pre and post-retirement planning for a wide range of professions including medical, legal, business executives and small business owners.
Our small business services include entity selection, business startup, and ongoing planning and compliance. Also, we provide personalized employee benefit and pension planning.
Electronic filers of information returns -
Feb 28th - (recap)
File an information return (Form 1099) with IRS for certain payments you made during 2019. There are different versions of Form 1099 for different types of payments. For a 30-day extension of time to file, use Form 8809. The due date for electronic filers is March 31, 2020.
Electronically file those information returns listed under Feb. 28 above (e.g., Form 1099s, Form W-2s, etc.). (Feb. 28 is the due date for non-electronic filers.)
Large food and beverage establishment employers -
Electronically file Form 8027 to report tip income and allocated tips. Use Form 8027-T to summarize and transmit Form 8027 if you have more than one establishment. (March 2, 2020 is the due date for non-electronic filers.)
Individual taxpayers file an income tax return for 2019 (Form 1040), and pay any tax due. Taxpayers who can't make payments should request (on Form 9465) an agreement to pay in installments. If you want an automatic 6-month extension to file, file Form 4868 or make an electronic payment by Apr. 15. Then file Form 1040 by Oct. 15.
U.S. citizens and resident aliens living and working (or on military duty) outside the U.S. and Puerto Rico are allowed an automatic 2-month extension of time (to June 15) to file their returns and pay any taxdue.
If you aren't paying your 2020 income tax through withholding (or won't pay in enough tax during the year that way), pay the first installment of your 2020 estimated tax by this date. Use Form 1040-ES, or pay by various electronic means.
Contributions to an IRA for 2019 must be made by Apr. 15.
C corporations -
File a 2019 calendar year income tax return (Form 1120), and pay any tax still due. If you want an automatic 6-month extension, file Form 7004 and deposit what you estimate you owe.
Calendar year corporations must deposit the first installment of estimated income tax for 2020.