Tax Due Dates

January 2021

All Employers

Give your employees their copies of Form W-2 for 2020 by January 31, 2021.  If an employee agreed to receive Form W-2 electronically, post it on a website accessible to the employee and notify the employee of the posting by January 31.

January 10

  • Employees – who work for tips. If you received $20 or more in tips during December, report them to your employer.  You can use Form 4070.
  • Employers – Communications and air transportation taxes under the alternative method – deposit the tax included in amounts billed or tickets sold during the first 15 days of December 2020.


January 14

  • Employers – regular method taxes. Deposit the tax for the last 16 days of December 2020.

     

January 15

  • Individuals – Make a payment of your estimated tax for 2020 if you didn’t pay your income tax for the year through withholding (or didn’t pay in enough tax that way). Use Form 1040-ES.  This is the final installment date for 2020 estimated tax payments.  However, you don’t have to make this payment if you file your 2020 return (Form 1040 or Form 1040-SR) and pay any tax due by January 31, 2021.
  • Farmers & Fishermen – Pay your estimated tax for 2020 using form 1040-ES. You have until April 15 to file your 2020 income tax return (Form 1040 or Form 1040-SR).  If you don’t pay your estimated tax by January 15, you must file your 2020 return and pay any tax due by March 1, 2021, to avoid an estimated tax penalty.
  • Employers – Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in December 2020.
  • Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in December 2020.


January 27

  • Employers – Communications and air transportation taxes under the alternative method – deposit the tax included in amounts billed or tickets sold during the first 15 days of December 2020.

January 29

  • Employers – regular method taxes. Deposit the tax for the last 15 days of January 2021.


January 31

  • Individuals – If you didn’t pay your last installment of estimated tax by January 15, you may choose (but aren’t required) to file your income tax return (Form 1040 or Form 1040-SR) for 2020 by January 31. Filing your return and paying any tax due by January 31 prevents any penalty for late payment of the last installment.  If you can’t file and pay your tax by January 31, file and pay your tax by April 15.
  • All Businesses – Give annual information statements to recipients of certain payments you made during 2020.  You can use the appropriate version of Form 1099 or other information return.  Form 1099 can be issued electronically with the consent of the recipient.  Payments that may be covered include the following:

°Cash payments for fish (or other aquatic life) purchased from anyone engaged in the trade or business of catching fish

°Compensation for workers who aren’t considered employees (including fishing boat proceeds to crew members)

°Dividends and other corporate distributions

°Interest

°Rent

°Royalties

°Payments of Indian gaming profits to tribal members

°Profit-sharing distributions

°Retirement plan distributions

°Original issue discount

°Prizes and awards

°Medical and health care payments

°Debt cancellation (treated as payment to debtor)

°Cash payments over $10,000.  See the Form 8300 instructions.

See the General Instructions for Certain Information Returns for information on what payments are covered, how much the payment must be before a statement is required, which form to use, when to file, and extensions of time to provide statements to the IRS.  Forms 1099-B, Proceeds from Broker and Barter Exchange Transactions, 1099-S, Proceeds from Real Estate Transactions, and certain reporting on Form 1099-MISC, Miscellaneous Income, are due to recipients by February 18.

Payers of nonemployee compensation – File Form 1099-MISC for nonemployee compensation paid in 2020.

Employers – Form 720 Taxes.  File form 720 for the fourth quarter of 2020

  • Wagering Tax. File form 730 and pay the tax on wagers accepted during December 2020
  • Heavy Highway Vehicle Use Tax. File form 2290 and pay the tax for vehicles first used in December 2019.
  • Federal unemployment tax. File Form 940 (or 940-EZ) for this year. If your undeposited tax is $500 or less, you can either pay it with your return or deposit it. If it is more than $500, you must deposit it. However, if you already deposited the tax for the year in full and on time, you have until February 10 to file the return.
  • Social Security, Medicare, and withheld income tax. File Form 941 for the fourth quarter of this year. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until February 10 to file the return.
  • Nonpayroll taxes. File Form 945 to report income tax withheld for this year on all nonpayroll items, including backup withholding and withholding on pensions, annuities, IRAs, gambling winnings, and payments of Indian gaming profits to tribal members. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the year in full and on time, you have until February 12 to file the return.
  • Give your employees their copies of Form W-2 for the previous year. If an employee agreed to receive Form W-2 electronically, post it on a website accessible to the employee and notify the employee of the posting by January 31st.
  • Give annual information Forms 1098, 1099 and W-2G to recipients for certain payments made during the year.
  • File Form W-3 with Copy A of all Forms W-2 issued for the current tax year. File Form 1099-MISC with the IRS when you are reporting non-employee compensation payments in box 7.