If you earn tips at work and got $20 or more in December, you must tell your boss and keep track of your tips every day. You also need to report all your tips when you do your taxes. You can use Form 4070.
Employers, if you need to pay taxes for payments made in December 2022, make sure to do it by the 17th.
Farmers and fishermen, pay your estimated tax for 2022 using Form 1040-ES. If you don't pay by January 17, 2023, make sure to file your tax return and pay by March 1, 2023, to avoid a penalty.
Individuals, if you didn't have taxes taken out of your income in 2022, you should pay estimated taxes. Use Form 1040-ES. The last day to pay for 2022 is the 17th. But if you file your tax return and pay everything by January 31, 2023, you won't need to pay estimated taxes. If you don't pay enough in taxes, you might have to pay a penalty, but you can avoid it by paying at least 90% of the tax you owe or 100% of last year's tax, whichever is less.
Businesses, by the 31st, give out annual statements for payments made in 2022. You can use Form 1099 or do it electronically if the recipient agrees.
Certain small employers, file Form 944 for 2022 by the 31st to report taxes. If you owe $2,500 or more for 2022 but less than $2,500 for the fourth quarter, pay it with a timely filed return by the 31st.
Employers, file Form 940 for 2022 by the 31st for federal unemployment tax. If your undeposited tax is $500 or less, you can either pay it with your return or deposit it. If it's more than $500, you must deposit it. But if you deposited all year's tax on time, you have until February 10 to file the return.
Employers, give your employees Form W-2 by January 31, 2023, unless they agreed to get it electronically.
Employers, for nonpayroll taxes, file Form 945 by the 31st to report income tax withheld. If you owe less than $2,500, you can pay it with a timely filed return. If you deposited tax on time, you have until February 10 to file the return.
Employers, if you paid nonemployee compensation in 2022, file Form 1099-MISC by the 31st.
Employers, file Form 941 for the fourth quarter of 2022 by the 31st. If you owe less than $2,500, you can pay it with a timely filed return. If you deposited tax on time, you have until February 10 to file the return.
Farm employers, file Form 943 by the 31st to report taxes. If you owe less than $2,500, you can pay it with a timely filed return. If you deposited tax on time, you have until February 10 to file the return.
Individuals, if you missed paying your last estimated tax by January 17, you can choose to file your income tax return by January 31, 2022, to avoid a penalty. If you can't do it by January 31, make sure to file and pay by April 18, 2023.
Payers of gambling winnings, give the winners their copies of Form W-2G by the 31st.
Payers of nonemployee compensation, file Form 1099-NEC for 2022 by the 31st if you paid nonemployee compensation.
February due dates
On the 10th, certain small employers should file Form 944 to report taxes for 2022 if they deposited the tax correctly.
Also on the 10th, employees who earn tips need to report them if they got $20 or more in January. Keep a daily record of tips and report them on your tax return using Form 4070.
Employers, on the 10th, if you deposited your federal unemployment tax or nonpayroll taxes correctly, file Form 940 and Form 945 respectively for 2022.
Employers, on the 10th, if you deposited social security, Medicare, and withheld income tax correctly, file Form 941 for the fourth quarter of 2022.
Farm Employers, on the 10th, file Form 943 to report social security and Medicare taxes and withheld income tax for 2022 if you deposited the tax correctly.
On the 15th, businesses need to provide annual information statements to recipients of certain payments made in 2022. You can use Form 1099, and you may issue it electronically with the recipient's consent. This applies to specific types of payments mentioned.
Employers, if the monthly deposit rule applies, deposit the tax for payments made in January for nonpayroll withholding, social security, Medicare, and withheld income tax by the 15th.
On the 15th, individuals who claimed exemption from income tax withholding last year must file a new Form W-4 to continue the exemption for another year.
On the 16th, employers should start withholding income tax from employees who claimed exemption from withholding in 2022 but didn't provide a new Form W-4.
On the 28th, businesses should file information returns (e.g., Forms 1099) for certain payments made during 2022. Different types of payments have different forms. If you file electronically, the deadline is extended to March 31, but the recipient should receive these forms by January 31.
Health Coverage Reporting: For certain employers and providers of minimum essential coverage, file paper Forms 1094-C and 1095-C (or Forms 1094-B and 1095-B) with the IRS by the 28th. If filing electronically, the deadline is extended to March 31.
Large Food and Beverage Establishment Employers: File Form 8027 by the 28th, and if you have more than one establishment, use Form 8027-T to summarize and transmit the paper forms. The deadline is extended to March 31 if filing electronically.
Payers of Gambling Winnings: File Form 1096 along with Copy A of all the Forms W-2G issued for 2022 by the 28th. If filing electronically, the deadline is extended to March 31, but recipients should still get these forms by January 31.
March due dates
On the 1st, farmers and fishermen, file your 2022 income tax return (Form 1040 or Form 1040-SR) and pay the taxes you owe. If you paid your 2022 estimated tax by January 17, 2023, you have until April 18 to file.
On the 2nd, if you're an Applicable Large Employer, provide Form 1095-C to full-time employees for health coverage reporting. Other providers of minimum essential coverage should provide Form 1095-B to responsible individuals.
On the 10th, employees who earn tips need to report them if they received $20 or more in tips during February. Keep a daily record of tips and report them on your tax return using Form 4070.
On the 15th, employers should deposit taxes for payments made in February for nonpayroll withholding, social security, Medicare, and withheld income tax if the monthly deposit rule applies.
Partnerships, on the 15th, file your 2022 calendar year return (Form 1065) and provide each partner with their Schedule K-1. You can request a 6-month extension by filing Form 7004 and then file by September 15.
S Corporation Election, on the 15th, file Form 2553 to elect S corporation treatment beginning with calendar year 2023 (or calendar year 2024 if filed late).
S Corporations, on the 15th, file your 2022 calendar year income tax return (Form 1120-S) and pay any tax due. Provide each shareholder with their Schedule K-1 and, if applicable, Schedule K-3. You can request a 6-month extension by filing Form 7004 and then file by September 15.
On the 31st, electronically file copies of Forms W-2G issued for 2022, but this applies only if you're filing electronically. Otherwise, the deadline is February 28.
On the 31st, electronically file Forms 1097, 1098, 1099 (except Form 1099-NEC reporting nonemployee compensation), 3921, 3922, and W-2G with the IRS if you're filing electronically. Otherwise, the deadline is February 28.
Also on the 31st, electronically file Forms 8027 for 2022 if you're filing electronically. Otherwise, see the deadline mentioned on February 28.
If you're an Applicable Large Employer, electronically file Forms 1094-C and 1095-C with the IRS for health coverage reporting, but this applies only if you're filing electronically. Otherwise, see the deadline mentioned on February 28.
April due dates
On the 10th, employees who earn tips need to report them if they received $20 or more in tips during March. Keep a daily record of tips and report them on your tax return using Form 4070.
On the 18th, corporations should deposit the first installment of estimated income tax for 2023.
Also on the 18th, corporations need to file a 2022 calendar year income tax return (Form 1120) and pay any tax due. If you need more time, you can request an automatic 6-month extension by filing Form 7004 and depositing an estimated amount of taxes you owe.
Employers, on the 18th, if the monthly deposit rule applies, deposit the tax for payments made in March for nonpayroll withholding, social security, Medicare, and withheld income tax.
Household Employers, on the 18th, if you paid cash wages of $2,400 or more in 2022 to a household employee, you must file Schedule H (Form 1040). If you're required to file a federal income tax return (Form 1040 or Form 1040-SR), file Schedule H (Form 1040) with the return and report any household employment taxes. Report any federal unemployment (FUTA) tax on Schedule H (Form 1040) if you paid total cash wages of $1,000 or more in any calendar quarter of 2021 or 2022 to household employees. Also, report any income tax you withheld for your household employees.
Individuals, on the 18th, file a 2022 Form 1040 or Form 1040-SR and pay any tax you owe. If you want more time to file, you can request an automatic 6-month extension by filing Form 4868 and paying an estimated amount of tax to avoid penalties and interest. Then, file Form 1040 or Form 1040-SR by October 16.
Individuals, on the 18th, if you're not paying your 2023 income tax through withholding or won't pay enough tax during the year that way, pay the first installment of your 2023 estimated tax. You may be able to avoid penalties by paying at least 90% of the tax shown on the return for the tax year or 100% of the tax shown for the prior year, whichever is less.
May due dates
On the 1st, employers should deposit federal unemployment tax if the amount owed through March is more than $500.
Also on the 1st, employers need to file Form 941 for the first quarter of 2023 for social security, Medicare, and withheld income tax. Deposit or pay any undeposited tax under the accuracy of deposits rule. If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for the quarter timely, properly, and in full, you have until May 10 to file the return.
On the 10th, employees who earn tips need to report them if they received $20 or more in tips during April. Keep a daily record of tips and report them on your tax return using Form 4070.
Employers, on the 15th, if the monthly deposit rule applies, deposit the tax for payments made in April for nonpayroll withholding, social security, Medicare, and withheld income tax.
June due dates
On the 12th, employees who earn tips need to report them if they received $20 or more in tips during May. Keep a daily record of tips and report them on your tax return using Form 4070.
On the 15th, corporations should deposit the second installment of estimated income tax for 2023.
Employers, on the 15th, if the monthly deposit rule applies, deposit the tax for payments made in May for nonpayroll withholding, social security, Medicare, and withheld income tax.
Individuals, on the 15th, if you're a U.S. citizen or resident alien living and working (or on military duty) outside the United States and Puerto Rico, file Form 1040 or Form 1040-SR and pay any tax, interest, and penalties due. Otherwise, see the deadlines mentioned in April.
Individuals, on the 15th, make a payment of your 2023 estimated tax if you're not paying your income tax for the year through withholding. Use Form 1040-ES. This is the second installment date for estimated tax in 2023. You may be able to avoid penalties by paying at least 90% of the tax shown on the return for the tax year or 100% of the tax shown for the prior year, whichever is less.
July due dates
On the 10th, employees who earn tips need to report them if they received $20 or more in tips during June. Keep a daily record of tips and report them on your tax return using Form 4070.
On the 17th, employers should deposit nonpayroll withholding tax if the monthly deposit rule applies for payments made in June. The same goes for social security, Medicare, and withheld income tax.
On the 31st, certain small employers should deposit any undeposited tax if their tax liability is $2,500 or more for 2023 but less than $2,500 for the second quarter. Additionally, employers should deposit federal unemployment tax if the amount owed through June is more than $500.
Employers who maintain an employee benefit plan, like a pension or profit-sharing plan, should file Form 5500 or 5500-EZ for calendar year 2022 by the last day of the seventh month after the plan year ends.
Also on the 31st, employers need to file Form 941 for the second quarter of 2023 for social security, Medicare, and withheld income tax. Deposit or pay any undeposited tax under the accuracy of deposits rule. If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for the quarter timely, properly, and in full, you have until August 10 to file the return.
August Due Dates
On the 10th, employees who earn tips need to report them if they received $20 or more in tips during July. Keep a daily record of tips and report them on your tax return using Form 4070.
On the 10th, employers should file Form 941 for the second quarter of 2023 for social security, Medicare, and withheld income tax. However, this due date applies only if you deposited the tax for the quarter timely, properly, and in full.
On the 15th, employers need to deposit nonpayroll withholding tax if the monthly deposit rule applies for payments made in July. The same goes for social security, Medicare, and withheld income tax.
September Due Dates
On the 11th, employees who earn tips need to report them if they received $20 or more in tips during August. Keep a daily record of tips and report them on your tax return using Form 4070.
On the 15th, corporations should deposit the third installment of estimated income tax for 2023.
Employers, on the 15th, if the monthly deposit rule applies, deposit the tax for payments made in August for nonpayroll withholding, social security, Medicare, and withheld income tax.
Individuals, on the 15th, make a payment of your 2023 estimated tax if you're not paying your income tax for the year through withholding. Use Form 1040-ES. This is the third installment date for estimated tax in 2023. You may be able to avoid penalties by paying at least 90% of the tax shown on the return for the tax year or 100% of the tax shown for the prior year, whichever is less.
Partnerships, on the 15th, file a 2022 calendar year return (Form 1065) if you timely requested an automatic 6-month extension. Provide each partner with a copy of their final or amended Schedule K-1 (Form 1065) or substitute Schedule K-1 (Form 1065) and, if applicable, Schedule K-3 (Form 1065) or substitute Schedule K-3 (Form 1065).
S Corporations, on the 15th, file a 2022 calendar year income tax return (Form 1120-S) if you timely requested an automatic 6-month extension of time to file the return. Provide each shareholder with a copy of their final or amended Schedule K-1 (Form 1120-S) or substitute Schedule K-1 (Form 1120-S) and, if applicable, Schedule K-3 (Form 1120-S) or substitute Schedule K-3 (Form 1120-S).
October Due Dates
On the 10th, employees who earn tips should report any tips received if they received $20 or more in tips during September. Remember to keep a daily record of tips and report them on your tax return using Form 4070.
On the 16th, employers need to deposit taxes for nonpayroll withholding, social security, Medicare, and withheld income tax if the monthly deposit rule applies for payments made in September.
On the 16th, individuals who have an automatic 6-month extension to file their income tax return for 2022 should file Form 1040 or Form 1040-SR and pay any tax, interest, and penalties due.
On the 17th, corporations should file a 2022 calendar year income tax return (Form 1120) and pay any tax, interest, and penalties due if they timely requested an automatic 6-month extension.
On the 31st, certain small employers should deposit any undeposited tax if their tax liability is $2,500 or more for 2023 but less than $2,500 for the third quarter.
On the 31st, employers should deposit federal unemployment tax owed through September if it's more than $500.
On the 31st, employers should file Form 941 for the third quarter of 2023 and deposit or pay any undeposited tax under the accuracy of deposits rule. If the tax liability is less than $2,500, it can be paid in full with a timely filed return. If the tax for the quarter was deposited timely, properly, and in full, the filing deadline is extended until November 13.
November Due Dates
On the 13th, employees who earn tips should report any tips received if they received $20 or more in tips during October. Remember to keep a daily record of tips and report them on your tax return using Form 4070.
On the 13th, employers should file Form 941 for the third quarter of 2023 for social security, Medicare, and withheld income tax. This due date applies only if the tax for the quarter was deposited timely, properly, and in full.
On the 15th, employers need to deposit taxes for nonpayroll withholding, social security, Medicare, and withheld income tax if the monthly deposit rule applies for payments made in October.
December Due Dates
On the 11th, employees who earn tips should report any tips received if they received $20 or more in tips during November. Remember to keep a daily record of tips and report them on your tax return using Form 4070.
On the 15th, corporations should deposit the fourth installment of estimated income tax for 2023.
On the 15th, employers need to deposit taxes for nonpayroll withholding, social security, Medicare, and withheld income tax if the monthly deposit rule applies for payments made in November.
Easily schedule a consultation with us today.
Pick a time that works for you and let's talk about your financial goals.
