2010 Payroll Calendar- Payroll Software

Employers must adhere to a strict timeline for filing forms and tax payments to the IRS. Penalties maybe incurred if deadlines are not meet. The 2010 payroll calendar published by the IRS can be an important tool for employers.


The tax year is divided into four quarters January, February and March make up the first quarter. The second quarter of the year consists of April, May and June. Third quarter includes July, August and September leaving October, November and December as the fourth quarter.


January is the first month of the year however employers will be wrapping up the end of the previous year, completing year end forms. Employers and payers are required to provide employees and contractors with Form W2 and Form 1099 Misc. These forms must be issued no later than January 31st. Employers must file their tax return, for the previous year, no later than January 31st that maybe Form 941, Employer's Quarterly Federal Tax Return or Form 944 Employer's Annual Federal Tax Return. Employer's Annual Federal Unemployment Tax Return (FUTA) is another form due by January 31st. If employers have deposited all tax payments when due they have an additional 10 days to file Forms 940, 944 and 941.


These types of payroll tax forms can be complicated and time consuming to complete. The forms may take many manual calculations which can cause costly errors. Payroll software is a smart alternative to manually figuring payroll or using an expensive payroll service. Payroll software automatically prepares W2, 941, 944 and 940 Forms.


On February 16th W-4 forms claiming exemption from withholding expires. Previous to this date request new Form W-4, Employee's Withholding Allowance Certificate, from all employees who claimed exemption from income tax withholding in the previous year. If the employee does not give their employer a new W4 form the employer must start withholding at a single rate zero allowances.


The end of February, by February 28th, file Copy A of all paper 1099 forms with Form 1096 with IRS and file all paper W2 Copy A forms with Form W3 to SSA. These forms can be electronically filed with the respective agencies moving the deadline to March 31st. Employers submitting more than 250 forms may be required to electronically file.


Form 941 is due the month following the end of the quarter. April 30th, July 31st October 31st and January 31st of the following year are the due dates for Form 941.


Before December 1st supply employees with a new Form W-4. If they have any changes for the coming year have them make the appropriate changes on the new form. On December 31st Form W-5, Earned Income Credit Advanced Payment Certificate, expires. Eligible employees who want to receive advance payments for the next year must submit a new W-5 to their employer.


Payroll program automatically calculates net pay, federal withholding tax, Social Security tax, Medicare, state and local payroll taxes. Payroll software also supports different types of payroll pay periods, prints checks, generates payroll reports and prepares payroll forms 941, 944, 940, W2 and W3.