Fall 2007 issue of Horizons

Presorted STANDARD U.S. Postage PAID St. Louis, MO PERMIT NO. 861

Knowledge. Commitment. Value.

One North Brentwood St. Louis, Missouri 63105

"Under U.S. Treasury Department guidelines, we hereby inform you that any tax advice contained in this communication is not intended or written to be used, and cannot be used by you for the purpose of avoiding penalties that may be imposed on you by the Internal Revenue Service, or for the purpose of promoting, marketing or recommending to another party any transaction or matter addressed within this tax advice. Further, RubinBrown LLP imposes no limitation on any recipient of this tax advice on the disclosure of the tax treatment or tax strategies or tax structuring described herein." Exempt Organizations: Exempt organizations with a calendar year must file the annual return (Form 990, Form 990-EZ or Form 990-PF) for 2006. Organizations are exempt from income tax under Code Section 501. Calendar year Section 501 organizations with unrelated business income must file income tax returns (Form 990-T). MAY 31 - IRA or SEP: Annual statements to IRS must be filed regarding 2006 account balances for an IRA or SEP (Form 5498). Participants and the IRS must be provided with IRA plan contribution information. JUNE 15 Individuals: Payments of second installment of 2007 estimated tax by individuals (other than farmers and fisherman), trusts and estates and certain trusts. Corporations: Payment of second installment of 2007 estimated income tax by calendar year corporations. JULY 31 - Employers’ Taxes: Employers of non-agricultural and non-household employees must file Form 941 to report income tax withholding and FICA taxes for the second quarter of 2006. Filings: Form 5500 due for calendar year taxpayers for 2006. Timely Reminder MARCH 15 Corporations: File a 2006 calendar year income tax return (Form 1120) and pay any tax due. If you want an automatic six-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe. S Corporations: File a 2006 calendar year income tax return (Form 1120S) and pay any tax due. Provide each shareholder with a copy of Schedule K-1. APRIL 2 - Electronic filing of Forms 1098, 1099 and W-2G. File forms 1098, 1099, or W-2G with the IRS. This due date applies only if you file electronically. Otherwise, see Feb. 28. APRIL 16 - Individuals: File a 2006 income tax return and pay any tax due. If you want an automatic six-month extension of time to file the return, file Form 4868. If you paid cash wages of $1,500 or more in 2006 to a household employee, you must file Schedule H. Contributions to an IRA must be made by this date. If you are not paying your 2007 income tax through withholding (or will not pay in enough tax during the year that way), pay the first installment of your 2007 estimated tax. Use Form 1040-ES. Partnerships. File a 2006 calendar year return (Form 1065). Provide each partner with a copy of Schedule K-1. Corporations: Deposit the first installment of estimated income tax for 2007. MAY 1 - Employer’s Taxes: Employers of non-agricultural and non-household employees must file Form 941 to report income tax withholding and FICA taxes for the first quarter of 2007. MAY 15