December 2024 tax and compliance deadlines

December is a very festive time for family and friends, with lots of reasons to celebrate. While merriment is taking place, don’t forget about these important deadlines, and be sure to pass this list to 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 the January due date for the final 2024 estimated tax payment.
• Remind business clients of Jan. 31 due date for filing Forms W-2 and 1099-MISC for 2024.

Key Compliance Dates

Employees whose withholding status will change in 2024 should submit a new Form W-4, Employees Withholding Certificate, to the employer. The new form should be submitted as early as possible to guarantee implementation of the withholding change in January.

Monday, Dec. 2—Semiweekly depositors deposit FICA and withheld income tax on wages paid on November 23-26.

Wednesday, Dec. 4—Semiweekly depositors deposit FICA and withheld income tax on wages paid on November 27-29.

Friday, Dec. 6—Semiweekly depositors deposit FICA and withheld income tax on wages paid on November 30-Dec. 3.

Monday, Dec. 9—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 4-6.

Tuesday, Dec. 10—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.

Friday, Dec. 13—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 7-10.

Monday, Dec. 16:

• Monthly depositors deposit FICA and withheld income tax for November.
• Corporations: Deposit the fourth installment of estimated income tax for 2024.
• Social Security, Medicare, and withheld income tax: If the monthly deposit rule applies, deposit the tax for payments made in November.

Wednesday, Dec. 18—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 11-13.

Friday, Dec. 20—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 14-17.

Thursday, Dec. 26—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 18-20.

Monday, Dec. 30—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 21-24.

Intuit® Accountant Resources

• The December 2024 calendar with filing deadlines and reminders for you and your clients.
• Intuit Tax Guide 2024
• IRS annual inflation adjustments for tax years 2023 and 2024
• Key Tax Facts for 2024