Year-End Duties and Upcoming Deadlines
Sumitted by: Paige Gregory, Manager

The beginning of a new year brings a fresh start.  For local governmental entities it also signals a time for year-end duties and upcoming deadlines prescribed by the State Board of Accounts. 

Reports that may have to be prepared are: withholding taxes (federal and state), Social Security taxes, utility receipts tax, sales tax (if any), annual utility report to be filed with the Indiana Utility Regulatory Commission, Form 100-R (Certified Report of Names, Addresses, Duties and Compensation of Public Employees) and the annual report.

Here are some relevant deadlines:

Early in the year – All records must be posted and closed as promptly as possible after the close December and reconciled with bank statement(s).  Utilities and other departments maintaining separate records must also be reconciled.

January 30 is the last day to publish and file annual reports with the State Board of Accounts for counties, school corporations, special taxing districts (excluding solid waste districts), and townships.
 
January 31 is the last day to furnish each employee with a Form W-2 showing compensation paid during the preceding year, federal tax withheld and Social Security tax withheld.  It is also the last day to file the Form 100-R with the State Board of Accounts.  In addition, libraries must file a report of annual statistics to the Indiana State Library.

February 28 is the last day to file withholding statements W-2 and WH-2 together with Yearly Reconciliation of Employer’s Quarterly Tax Returns W-3 and WH-3 with the District Director of Internal Revenue and the Indiana Department of Revenue, respectively.   

March 1 is the last day to publish and file annual reports with the State Board of Accounts for municipalities, public libraries and solid waste districts.  It is also the last day to prepare a list of old outstanding checks for cancellation.

April 15 is the last day for municipalities to make a report on Form URT and payment of Utility Receipts Tax for the preceding calendar year (if not made by January 31) to the Indiana Department of Revenue.

April 30 is the last day for filing the Annual Utility Report with the Utility Regulatory Commission.

Good luck in these endeavors and if you have any questions or need assistance, please contact us at footnotes@umbaugh.com.