Tax Law and News January 2021 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 Intuit Accountants Team Modified Dec 10, 2020 2 min read Happy New Year to you and yours! Everyone at Intuit® Accountants sends good wishes for a great 2021. January is the official kickoff to tax season, so as you continue to get your firm geared up, don’t forget to take a look at your monthly list of tax and compliance deadlines for January 2021. In January, it’s recommended that you: Send tax preparation packets and tax data organizers to individual clients. Alert individual clients to the option of filing the 2020 return by Jan. 31 in lieu of making final 2020 estimated tax payment. Remind business clients of Feb. 1 due date for filing Forms W-2, 1099-MISC and 1099-NEC. Remind business clients of information reporting requirements. Key Compliance Dates: Monday, Jan. 4 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 26-29. Wednesday, Jan. 6 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 30-Jan. 1. Friday, Jan. 8 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 2-5. Monday, Jan. 11 – Tipped employees who received $20 or more in tips during December report them to their employers on Form 4070, Employee’s Report of Tips to Employer. Wednesday, Jan. 13 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 6-8. Friday, Jan. 15: Monthly depositors deposit FICA and withheld income tax for December. Individuals pay final installment of 2020 estimated tax. Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 9-12. Thursday, Jan. 21 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 13-15. Friday, Jan. 22 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 16-19. Wednesday, Jan. 27 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 20-22. Friday, Jan. 29 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 23-36. Note: Because Jan. 31 falls on a Sunday, end-of-month filings are pushed to Monday, Feb. 1. Please see the February tax calendar that will be published in late January. Intuit Accountants Resources: The January 2021 calendar with filing deadlines and reminders for you and your clients. Key tax facts for 2020 State tax deadlines As always, visit Intuit Accountants for more information and training resources. Previous Post The case of the extra paycheck Next Post What clients may want to know about the second stimulus… Written by Intuit Accountants Team The Intuit® Accountants team provides ProConnect™ Tax, Lacerte® Tax, ProSeries® Tax, and add-on software and services to enable workflow for its customers. Visit us at https://proconnect.intuit.com, or follow us on Twitter @IntuitAccts. More from Intuit Accountants Team Comments are closed. Browse Related Articles Practice Management ProSeries® Tax spotlight: Nayo Carter-Gray, EA, MBA Practice Management Consultant Spotlight: Katherine Weiler Webinars Technology and Your Clients: Dec. 19 Webinars Escalating IRS Correspondence: Dec. 17 Webinars Intuit Hosting Hacks: Dec. 18 Webinars 5 Tips to Automate Tax Season: Dec. 17 Webinars SafeSend + Intuit = Engagement: Dec. 10 Webinars What’s New in ProConnect: Dec. 10 Practice Management Consultant spotlight: Ahmed Lotfy Practice Management Consultant spotlight: Jorge Guadalupe Pacheco Tarango