Here’s what’s due this month:

December 15 – Deposit federal payroll tax for Oct if the monthly rule applies.

December 20 – Texas Sales & Use Tax Return Due.

December 26 – ‘Christmas Day’ observed (federal holiday)

Learn about the IRS Fresh Start Initiative via an informative, one-hour webinar on Wednesday, August 31, at 1pm (CT).

The IRS is helping individual and small business taxpayers get a Fresh Start with their tax liabilities, which includes changes to Collection policy for:

• Lien filing threshold
• Lien withdrawals
• Installment agreements
• Offer in compromise

Register at http://www.irs.gov/businesses/small/article/0,,id=158856,00.html#2

The IRS has, effective July 1, increased the business mileage deduction to 55.5¢ per mile.

In case you didn’t know, you can also claim mileage deductions for three non-business purposes: transportation to and from medical treatment, relocation, and driving done as part of work with or for a charitable organization.

Here’s the breakdown, according to purpose, for both halves of 2011.

Here’s what’s due this month

April 15 – Partnership income tax return due – This includes LLC’s taxed as
partnerships.

April 15 – Personal income tax return due

April 15 – If you are extending your personal tax return, your extension plus any
remaining estimated taxes owed are due.

April 15 – Last day to make 2010 contributions to your IRA’s

April 15 – First quarter 2011 estimated tax deposits due

April 15 – Payroll tax deposits due for monthly depositors

April 20 – Texas Sales and Use Tax return due for monthly and quarterly filers

May 2 – Employer’s Quarterly Federal Tax Return (Form 941) due for first quarter
payroll

May 2 – Texas Workforce Commission Employer’s Quarterly Report (From C3) due for
first quarter payroll

May 2 – Employer’s Federal Unemployment Tax Deposit due for first quarter payroll

February 22 – Texas Monthly Texas Sales Tax return and payment are due for January

February 28 – File information returns, including Forms 1098, 1099 and W-2G for payments made during 2010. File Form W-3 with Copy A of all Forms W-2 issued for 2010.

January 20 – Texas Monthly Texas Sales Tax return and payment are due for November

January 31 – Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return is due. Use it to report the FUTA tax on wages you paid.

January 31 -Form 941, Employer’s QUARTERLY Federal Tax Return is due. Use it to report social security and Medicare taxes and withheld income taxes on wages if your employees are not farm workers or household employees.

January 31 – Form 945, Annual Return of Withheld Federal Income Tax is due.  Use it to report income tax withheld on all nonpayroll items.

The federal tax incentive for filmmakers, known as Section 181, has been extended through 2011 as part of a extension Bush-era tax cuts signed by President Obama on December 17.

The bill retroactively extends for two years (through 2011) the provision under section 181 of the Internal Revenue Code that allows film and television producers to expense the first $15 million of production costs incurred in the United States

This means that feature films under $15MM that begin principal photography anytime during 2010 and 2011 can take advantage of the preferential tax treatment.  As in the past, the limit is raised to $20 million if the costs are incurred in economically depressed areas in the United States.

December 15 – fourth quarterly installment of the 2010 estimated tax for calendar year corporations

December 15 – monthly employers payroll tax deposit due for November

December 20 – Monthly Texas Sales Tax return and payment are due for November

As I’ve previously mentioned, a crucial filing deadline of Oct. 15 is looming for many tax-exempt organizations that are required by law to file their Form 990 with the Internal Revenue Service or risk having their federal tax-exempt status revoked. Nonprofit organizations that are at risk can preserve their status by filing returns by Oct. 15, 2010, under a one-time relief program.

The Pension Protection Act of 2006 mandates that most tax-exempt organizations must file an annual return or submit an electronic notice, with the IRS and it also requires that any tax-exempt organization that fails to file for three consecutive years automatically loses its federal tax-exempt status.

Here are 10 facts to help nonprofit organizations maintain their tax-exempt status.

• Small nonprofit organizations at risk of losing their tax-exempt status because they failed to file required returns for 2007, 2008 and 2009 can preserve their status by filing returns by Oct. 15, 2010.
• Among the organizations that could lose their tax-exempt status are local sports associations and community support groups, volunteer fire and ambulance associations and their auxiliaries, social clubs, educational societies, veterans groups, church-affiliated groups, groups designed to assist those with special needs and a variety of others.
• A list of the organizations that were at-risk as of the end of July is posted at IRS.gov along with instructions on how to comply with the new law.
• Two types of relief are available for small exempt organizations — a filing extension for the smallest organizations required to file Form 990-N, Electronic Notice and a voluntary compliance program for small organizations eligible to file Form 990-EZ, Short Form Return of Organization Exempt From Income Tax.
• Small tax-exempt organizations with annual receipts of $25,000 or less can file an electronic notice Form 990-N also known as the e-Postcard. To file the e-Postcard go to the IRS website and supply the eight information items called for on the form.
• Under the voluntary compliance program, tax-exempt organizations eligible to file Form 990-EZ must file their delinquent annual information returns by Oct. 15 and pay a compliance fee.
• The relief is not available to larger organizations required to file the Form 990 or to private foundations that file the Form 990-PF.
• Organizations that have not filed the required information return by the extended Oct. 15 due date will have their tax-exempt status revoked.
• If an organization loses its exemption, it will have to reapply with the IRS to regain its tax-exempt status and any income received between the revocation date and renewed exemption may be taxable.
• Donors who contribute to at-risk organizations are protected until the final revocation list is published by the IRS.

July 15 – Payroll tax deposits due for monthly depositors

July 20 – Texas Sales and Use Tax Return due for monthly and quarterly filers