Tax Law and News December 2016 Tax and Compliance Deadlines Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Dorinda DeScherer Published Nov 30, 2016 2 min read Are you ready for tax season? It’s almost here, but first, it’s time to celebrate your achievements and complete some end-of-year tasks. While you’re doing that, here’s a reminder of key tax compliance and due dates for you and your clients. In December, it is recommended that you: Establish tax return preparation procedures. Develop tax preparation docket sheet. Analyze tax season staffing needs. Prepare tax season work assignments. Prepare tax preparation packets for clients. Review new tax developments. Remind individual clients of Jan. 17 due date for final 2017 estimated tax payment. Remind business clients of new Jan. 31 due date for filing Forms W-2 and 1099-MISC. Alert partnerships of accelerated March 15 due date for partnership returns. Remind C corporation clients of new April 17 due date for annual returns. Key Compliance Dates: December: Employees whose withholding status will change in 2017 should submit a new Form W-4 to the employer. The new form should be submitted as early as possible to guarantee implementation of the withholding change in January. Friday, Dec. 2 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on November 26-29. Wednesday, Dec. 7 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Nov. 30-Dec. 2. Friday, Dec. 9 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 3-6. Monday, Dec. 12 – Tipped employees who received $20 or more in tips during November report them to the employer on Form 4070. Wednesday, Dec. 14 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 7-9. Thursday, Dec. 15 – Monthly depositors deposit FICA and withheld income tax for November. Calendar-year corporations pay fourth installment of 2016 estimated tax. Friday, Dec. 16 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 10-13. Wednesday, Dec. 21 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 14-16. Friday, Dec. 23 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 17-20 Thursday, Dec. 29 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 21-23. Friday, Dec. 30 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 24-27. Intuit Resources: The December 2016 Calendar with filing deadlines and reminders for you and your clients. Key Tax Facts for the 2016 Return New Tax Law Changes for 2016 As always, visit Intuit® ProConnect™ for more information and training resources. Previous Post ‘Tis the Season: A Tax Guide to Holiday Giving Next Post Here’s Your Guide to Tax Help for Your Self-Employed and… Written by Dorinda DeScherer Dorinda DeScherer is an attorney specializing in tax and employment law. She is an honors' graduate of Barnard College of Columbia University and the University of Maryland School of Law. She is currently a principal with Editorial Resource Group, where she specializes in writing and editing professional publications. More from Dorinda DeScherer Comments are closed. Browse Related Articles Workflow tools On the Books podcast: Merry books-to-tax season Tax Law and News Navigating year-end planning for businesses Practice Management How market competitors have become firm predators Tax Law and News Accountant’s guide to secure file sharing Practice Management Consultant spotlight: Jason Tritle Practice Management Consultant spotlight: Corey Spear Practice Management Consultant spotlight: Drew Hickman Practice Management Top 7 advantages of choosing a firm niche Advisory Services Your firm: Maximizing value over volume Practice Management ProSeries® Tax spotlight: Nayo Carter-Gray, EA, MBA