March 1

Farmers and fishermen. File your 2000 income tax return (Form 1040) to avoid an underpayment penalty if you owe estimated tax. However, you have until April 16 to file if you paid your 2000 estimated tax by January 16, 2001.

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March 12

Employees who work for tips. If you received $20 or more in tips during February, report them to your employer. You can use Form 4070.

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March 15

Corporations. File a 2000 calendar year income tax return (Form 1120 or 1120-A) and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe.

S corporations. File a 2000 calendar year income tax return (Form 1120S) and pay any tax due. Provide each shareholder with a copy of Schedule K-1 (Form 1120S), Shareholder's Share of Income, Credits, Deductions, etc., or a substitute Schedule K-1. If you want an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe.

S corporation election. File Form 2553, Election by a Small Business Corporation, to choose to be treated as an S corporation beginning with calendar year 2001. If Form 2553 is filed late, S treatment will begin with calendar year 2002.

Electing large partnerships. Provide each partner with a copy of Schedule K-1 (Form 1065-B), Partner's Share of Income (Loss) From an Electing Large Partnership. This due date is effective for the first March 15 following the close of the partnership's tax year. The due date of March 15 applies even if the partnership requests an extension of time to file the Form 1065-B by filing Form 8736 or Form 8800.

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