January 3 - Payment of Employer Share of Social Security Tax from 2020 -
If you are an employer that deferred paying the employer share of social security tax or the railroad retirement tax equivalent in 2020, pay 50% of the deferred amount of the employer share of social security tax by January 3, 2022. The remaining 50% of the deferred amount of the employer share of social security tax is due by January 3, 2023. Any payments or deposits made before January 3, 2022, are first applied against the payment due by January 3, 2023.
January 3 - Payment of the Deferred Employee Share of Social Security Tax from 2020 -
If are an employer that deferred withholding and payment of the employee share of social security tax or the railroad retirement tax equivalent on certain employee wages and compensation between September 1, 2020, and December 31, 2020, you should have withheld and paid those taxes ratably from wages paid to the employee between January 1, 2021, and December 31, 2021. The employer is liable to pay the deferred taxes to the IRS and must do so before January 3, 2022.
January 3 - Time to Call For Your Tax Appointment -
January is the beginning of tax season. If you have not made an appointment to have your taxes prepared, we encourage you to do so before the calendar becomes too crowded.
January 10 - Report Tips to Employer -
If you are an employee who works for tips and received more than $20 in tips during December, you are required to report them to your employer on IRS Form 4070 no later than January 10.
January 18 - Individual Estimated Tax Payment Due -
It’s time to make your fourth quarter estimated tax installment payment for the 2021 tax year.
January 31 - Individuals Who Must Make Estimated Tax Payments -
If you didn't pay your last installment of estimated tax by January 18, you may choose (but aren't required) to file your income tax return (Form 1040 or Form 1040-SR) for 2021 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 18 (April 19 if you live in Maine or Massachusetts).
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