Upstream Tax Partners

Only a couple weeks left to get your taxes done before the deadline. We are still accepting new clients. Please reach out if you are looking for help filing taxes or need an extension.

Two weeks left to get taxes in or to get an extension done before the April 15th deadline. Please reach out if you need any help.

Key Deadlines for 2025

January 15, 2025
Employers: Deposit nonpayroll withheld income tax for December 2024 if the monthly deposit rule applies.
Individuals: Pay the fourth installment of 2024 estimated taxes (Form 1040-ES) if not paying income tax through withholding or if withholding is insufficient.

January 31, 2025
Employers:
File 2024 Form W-2 (Copy A) and transmittal Form W-3 with the Social Security Administration.
File a 2024 federal unemployment tax return (Form 940) and pay any remaining tax.
Report Social Security, Medicare, and income tax withholding for the fourth quarter of 2024 (Form 941) if all associated taxes weren’t deposited on time and in full.
Provide employees with 2024 Form W-2.

Businesses: Provide Forms 1098, 1099-MISC, 1099-NEC, and W-2G to recipients.

Individuals: File a 2024 income tax return (Form 1040 or 1040-SR) to avoid penalties for underpaying the January 15 estimated tax installment.

February 10, 2025
Employers:
File a 2024 return for federal unemployment taxes (Form 940) if all associated taxes were deposited on time and in full.
Report Social Security, Medicare, and income tax withholding for the fourth quarter of 2024 (Form 941) if all associated taxes were deposited on time and in full.
Individuals: Report January tip income of $20 or more to employers (Form 4070).

Anyone looking for tax projections going into 2025 please feel free to reach out we are trying to help get people prepared for next tax season.

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