December 2021 tax and compliance deadlines

Welcome to December! While it’s only a few weeks until the official start of the next tax season, you can help your clients prepare for the new season by sharing this list of important tax and compliance deadlines.

In December, it’s 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 January 18 due date for final 2021 estimated tax payment.
• Remind business clients of January 31 due date for filing Forms W-2 and 1099-MISC for 2021.

Key Compliance Dates:

Employees whose withholding status will change in 2022 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.

Wednesday, Dec. 1—Semiweekly depositors deposit FICA and withheld income tax on wages paid on November 24–26.

Friday, Dec. 3—Semiweekly depositors deposit FICA and withheld income tax on wages paid on November 27–30.

Wednesday, Dec. 8—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 1–3.

Friday, Dec. 10:

• Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 4–7.
• Tipped employees who received $20 or more in tips during November report them to the employer on Form 4070, Employee’s Report of Tips to Employer.

Wednesday, Dec. 15:

• Monthly depositors deposit FICA and withheld income tax for November.
• Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 8–10.
• Calendar-year corporations pay fourth installment of 2021 estimated tax.

Friday, Dec. 17—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 11–14.

Wednesday, Dec. 22—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 15–17.

Monday, Dec. 27—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 18–21.

Wednesday, Dec. 29—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 22–24.

Friday, Dec. 31:

• Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 25–28.
• Employers must pay 50% of the amount of the employer share of Social Security tax for 2020 that was deferred under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The remainder of the deferred tax is due by Dec. 31, 2022.
• Employers must withhold and pay the employee share of Social Security tax for 2020 that was deferred under President Trump’s Executive Memorandum (8/8/20).

Intuit Accountants Resources:

• The December 2021 calendar with filing deadlines and reminders for you and your clients.
• Key tax facts for 2021
• State tax deadlines

As always, visit Intuit Accountants for more information and training resources.