January 2022 tax and compliance deadlines

Welcome to the January 2022 list of important tax and compliance deadlines. The holidays may be soon over, but we can still celebrate the new year! Be sure to share this list with your clients.

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 2021 return by Jan. 31 in lieu of making the final 2021 estimated tax payment.
• Remind business clients of information reporting requirements.

Key Compliance Dates:

Wednesday, Jan. 5 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Dec. 29–31.

Friday, Jan. 7 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 1–4.

Monday, Jan. 10 – 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. 12 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 5–7.

Friday, Jan. 14 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 8–11.

Tuesday, Jan. 18:

• Monthly depositors deposit FICA and withheld income tax for December.
• Individuals pay final installment of 2021 estimated tax.

Wednesday, Jan. 19 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 12–14.

Friday, Jan. 21 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 15–18.

Wednesday, Jan. 26 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 19–21.

Friday, Jan. 28 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Jan. 22–25.

Monday, Jan. 31:

• Employers file Form 941, Employer’s Quarterly Federal Tax Return, for fourth quarter 2021 (if tax deposited in full and on time, file by Feb. 10).
• Qualifying small employers file annual Form 944, Employer’s Annual Federal Tax Return, for 2021 (in lieu of quarterly Form 941s).
• Employers file Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, for 2021 (if tax was deposited in full and on time, file by February 10).
• Furnish copies of Form W-2 for 2021 to employees and file Copy A with the Social Security Administration.
• Furnish Form 1099-NEC information returns for 2021 to payees of nonemployee compensation and file returns with the IRS.
• File Form 945, Annual Return of Withheld Federal Income Tax, for 2021 to report income tax withheld on non-payroll items.

Intuit Accountants Resources:

• The January 2022 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.