January
Day
10. Employees who receive gratuities – It is essential to inform your employer when you have earned $20 or more in tips during the course of December. To ensure accuracy, it is strongly recommended to keep track of your tips on a daily basis. All tips should be accounted for on your individual income tax return, using Form 4070.
17.Employers – nonpayroll withholding. If the monthly deposit rule applies, put aside the tax for payments made throughout Dec 2022.
17.Employers should remit Social Security, Medicare and withheld income taxes for payments made in December 2022 in accordance with the monthly deposit rule.
17.Farmers and Fishermen: Please ensure that your estimated tax for 2022 is paid by January 17 using Form 1040-ES. To avoid any potential penalties, your 2022 tax return (Form 1040 or Form 1040-SR) must be submitted by April 18. The estimated tax is not paid by the specified date, your 2022 return and any taxes due must be filed and paid by March 1, 2023.
17. Individuals- Pay the estimated tax for 2022 if you were unable to pay your income tax for the year via withholding or paid an insufficient amount in that manner. Utilise Form 1040-ES for this purpose.The deadline for 2022 estimated tax payments is the final cut-off date. However, if you file your 2022 return (Form 1040 or Form 1040-SR) and settle the entire amount due by the 31st of January 2023, then this payment will not be necessary.
If you want to avoid having to pay estimated taxes, you could try increasing your withholding. But if you don’t pay enough tax through withholding or estimated tax payments or if you pay late, there’ll be penalties.
You can elude the “Underpayment of Estimated Tax by Individuals Penalty” by paying at least 90% of the tax indicated on the return for the tax year, or by paying out 100% of the tax reflected on the preceding year’s return, whichever amount is lesser.
31.Businesses must provide annual information statements to those who received payments in 2022. The applicable version of Form 1099 or other information return should be used for this purpose. Electronic Form 1099 may be issued with the consent of the recipient.
31.Employers with certain small staffs must submit IRS Form 944 for the 2022 reporting period in order to report Social Security and Medicare taxes, as well as withheld income tax. Accurate payment of any unpaid taxes must be made in accordance with the deposit rules.
If your tax liability for the 2022 year is greater than $2,500 but does not exceed $2,500 for the fourth quarter, you must pay any outstanding taxes or deposit them before filing your return. If you have already deposited the necessary taxes for the year in a timely and satisfactory manner, you have until February 10 to submit your return.
31.Employers – Federal unemployment taxes are due for 2022. Any undeposited tax amount of $500 or less may be paid with the return or with a deposit. Any amount over $500 must be deposited.Provided that the tax for the year has been paid in full, on time and correctly, the deadline for filing the return is the 10th of February.
31.By January 31, 2023, employers should provide their employees with Form W-2, Wage and Tax Statement, for 2022. If the employee has agreed to receive this form electronically, employers should make it available on a website, and notify the employee of where the form can be accessed.
31.Employers are required to submit Form 945 in order to accurately report income tax withheld in 2022 on non-payroll items such as backup withholding, pensions, annuities, IRAs, gambling winnings and payments of Indian gaming profits to tribal members.
31.For 2022, employers are responsible for paying nonemployee compensation. Make sure to file Form 1099-MISC to report said nonemployee compensation.
If your tax liability is under $2,500, you may pay the amount in full upon timely filing of the return. If all quarterly taxes have been deposited on time, in the correct amount, and in full, the due date for filing is February 10.
31.Farm Employers -File Form 943 to report Social Security and Medicare taxes, as well as withheld income tax for the 2022 taxation period. Deposit or pay any undeposited tax in accordance with the accuracy of deposits rule.If your tax liability is less than $2,500, you may pay the balance when filing the return on or before the due date. If the full amount of tax has been timely deposited, the return must be filed by February 10.
31.Individuals-If you didn’t pay the last instalment of estimated taxes by Jan 17, you can choose to file your income tax return (Form 1040 or Form 1040-SR) for 2022 by Jan 31, but you don’t have to.By filing your return and paying the necessary taxes on or before January 31, you will avoid any late payment penalties. Should you be unable to file and pay by that date, the deadline for doing so is April 18.
31.Prayers of Gambling Winnings-Provide the recipients of reportable gambling winnings with a copy of Form W-2G, in the event that income tax has been withheld from their winnings.
31.Fill out Form 1099-NEC to report any nonemployee compensation paid in 2022.
February
Day
10. Certain Small Employers -Submit Form 944 for 2022 to report Social Security and Medicare taxes, along with any withheld income tax. If you’ve already paid your taxes for the year in full and on time, this is your due date.
10. Employees Who Work for Tips-Employees must maintain a daily record of all tips received in January and report any tips earned that are equal to or greater than $20 to their employer. All tips must be reported on the individual’s income tax return, using Form 4070.
10. Employers -Submission of the Federal Unemployment Tax for 2022. To ensure timely, precise, and full payment of taxes, kindly submit the requisite Form 940 by the due date.
10. Employers -For 2022, file Form 945 to report your income tax withholdings for all non-payroll items. This filing deadline applies only if you timely, accurately, and completely deposited the required tax for the year.
10. Employers-For the fourth quarter of 2022, employers who timely, accurately, and fully deposited social security, Medicare, and withheld income tax must file Form 941. This filing requirement is contingent upon the timely, proper, and complete deposit of the aforesaid taxes.
10. Farm Employers -Submit Form 943 to report Social Security and Medicare taxes, as well as withheld income tax, for the 2022 tax year. This filing deadline will only be applicable if the taxes for the year were deposited on-time, correctly, and in full.
15. Businesses -Provide annual information statements to recipients of certain payments made during 2022. You may use the applicable version of Form 1099 or other information return. Form 1099 may be issued electronically with the recipient’s approval.
This due date applies only to the following types of payments:
1) All payments reported on Form 1099-B.
2) All payments reported on Form 1099-S.
3)Substitutes reported in box 8 or lavish remunerations given to attorneys enumerated in box 10 of Form 1099-MISC.
15. Employers-Substitutes reported in box 8 or lavish remunerations given to attorneys enumerated in box 10 of Form 1099-MISC.
15. Employers-Deposit relevant taxes for payments made in January, as mandated by the monthly deposit rule, including Social Security, Medicare, and withheld income tax.
16. Employers-If you had the privilege of claiming exemption from income tax withholding last year with the Form W-4 presented to your employer, you must renew your exemption for the coming year by submitting a new Form W-4 prior to the designated date.
28. Businesses -You must file Form 1099-NEC reporting nonemployee compensation by January 31. Information returns (such as certain Forms 1099) for payments made during 2022 must be submitted by this date, as these payments are detailed in the January 31st report.Form 1096 must be utilised to compile and submit the forms for each payment type. The General Instructions for Certain Information Returns outlines which payments are included, the required payment amount before filing a return is necessary, which form to be used, and extensions of time to file.
Electronic filing of Forms 1097, 1098, 1099 (excluding Form 1099-NEC for nonemployee compensation), 3921, 3922, and W-2G with the IRS will result in an extension of the due date to March 31. However, the due date to provide the recipient with these forms typically remains January 31.
28.Health Coverage Reporting:As an Applicable Large Employer, filing of Forms 1094-C and 1095-C with the IRS is necessary for providing the needed information regarding your offered Health Insurance Coverage.No matter what type of minimum essential coverage you offer, you are able to file your Forms 1094-B, Transmittal of Health Coverage Information Returns, and 1095-B with the IRS by March 31st. Take this opportunity to make sure your coverage is up to date and file your forms electronically today! Please refer to the Instructions for Forms 1094-B and 1095-B, as well as the Instructions for Forms 1094-C and 1095-C for additional details about the information reporting requirements.
28.Large Food and Beverage Establishment Employers -If you run more than one establishment, you’ll need to fill out Form 8027-T, the Transmittal of Employer’s Annual Information Return of Tip Income and Allocated Tips. This form is used to summarise and submit all paper Forms 8027.Submission of Form 8027 via electronic means will result in an extension of the due date for filing with the IRS until March 31st.
28.Payers of Gambling Winnings-Please submit Form 1096 and Copy A of all Forms W-2G issued in 2022. If Forms W-2G are electronically filed, the IRS filing deadline is extended to March 31. The recipient must receive these forms by January 31.
March
Day
1.Farmers and Fishermen- Fulfil your 2022 income tax obligations (Form 1040 or Form 1040-SR) with enthusiasm and pay any taxes due. You have a special treat if you have already paid your 2022 estimated tax by January 17, 2023 – you can take the time to file your taxes before April 18.
02. Health Coverage Reporting- If you’re an Applicable Large Employer, you’ll need to give your full-time employees Form 1095-C, which is proof of health insurance offered and coverage. As for other providers of minimum essential coverage, you’ll need to provide Form 1095-B (Health Coverage) to whoever’s responsible.Refer to the Form 1094-B, 1095-B, 1094-C, and 1095-C Instructions for additional information regarding the information reporting requirements.
10.Employees Who Work for Tips-You are responsible to keep a record of your daily tips and inform your employer if you earned more than $20 in tips during the month of February. Additionally, all tips must be reported on your individual income tax return through the use of Form 4070.
15.Employers -For February payments, if the monthly deposit rule is applicable, remit the nonpayroll withholding taxes.
15. Employers -Deposit the withheld income tax according to the monthly deposit rule for payments made in February to cover Social Security and Medicare.
15. Partnerships-File an annual return for 2022 (Form 1065) and provide each partner with a copy of their Schedule K-1 (Form 1065), including a breakdown of their income, deductions, credits, etc., and, if applicable, Schedule K-3 (Form 1065), which contains a summary of their individual share of income, deductions, credits, etc.Request an automatic 6-month extension of the filing period for Form 1065 by submitting International or substitute Schedule K-3 along with Form 7004. File the return and furnish each partner with a finalised or amended (if necessary) Schedule K-1 (Form 1065) and, if applicable, Schedule K-3 (Form 1065) before September 15th.
15.S Corporation Election – Submit Form 2553 to elect to be deemed a S Corporation as of 2023 fiscal year. In the event of a delayed filing, S Corporation standing shall take effect in 2024 fiscal year.
15. S Corporations – Submit a 2022 1120-S Tax Return and remit any owed taxes.Furnish each shareholder with an official copy of the Schedule K-1 (Form 1120-S) and, when applicable, the Schedule K-3 (Form 1120-S) to report their portion of Income, Deductions, Credits, and other items.To apply for an automated 6-month extension of filing the return, submit Form 7004 and deposit an approximation of the tax due.File the return, remit any due tax, interest, and penalties, and distribute Schedule K-1 (Form 1120-S) and, if applicable, Schedule K-3 (Form 1120-S) to each shareholder by September 15.
31. Electronic Filling of Forms -You must electronically file all Forms W-2G issued for 2022 by the due date of February 28, unless otherwise specified. The date for distributing the forms to the recipients remains January 31.
31. Electronic Filling of Forms- Submit electronically Forms 1097, 1098, excluding 1099-NEC reflecting nonemployee compensation, 3921, 3922, and W-2G to the IRS by the due date. However, if filing a paper return, the deadline extends to February 28. For recipient’s copies, the deadline to provide these forms remains January 31.
31. Electronic Filling of Forms-File Forms 8027 for the 2022 tax year by February 28th, unless you are an employer of a large food and beverage establishment, in which case the deadline for electronic filing is the same.
31. Electronic Filling of Forms- For Applicable Large Employers, submission of electronic Forms 1094-C and 1095-C to the IRS is required. Other providers of minimum essential coverage must submit electronic Forms 1094-B and 1095-B to the IRS. For other instructions, please refer to February 28, earlier.
April
Day
10. Employees Who Work for Tips – If gratuities of $20 or more have been bestowed upon you during the month of March, you must inform your employer (it is obligatory for employees to document tips on a daily basis). All tips must be declared on your individual tax return. You will need to fill out Form 4070 to complete this process.
18. Corporations -Submit the initial instalment of the projected tax obligation for 2023.
18. Corporations – In order to file your 2022 calendar year income tax return (Form 1120), please submit the completed form and remit payment for any applicable taxes due. If you require an extension of time to file your return, kindly submit Form 7004 and make a deposit of the estimated taxes owed.
18.Corporations -If the monthly deposit rule applies, it is necessary to remit the nonpayroll withholding taxes associated with payments issued in March.
18.Employers – For payments made in March, kindly deposit the tax in accordance with the monthly deposit rule, taking into account Social Security, Medicare, and withheld income tax.
18. Household Employers – If you disbursed a sum of $2,400 or greater to any household personnel in 2022, it is essential to submit Schedule H (Form 1040). Should a federal income tax return (Form 1040 or Form 1040-SR) be necessary, it is imperative to enclose Schedule H (Form 1040) with the return and to detail any applicable household employment taxes.
18. Household Employers – If your total cash wages to household employees exceed $1,000 in any calendar quarter of 2021 or 2022, you must report any relevant Federal Unemployment (FUTA) Tax on Schedule H (Form 1040). Additionally, ensure that you report any applicable income tax withholdings for your household employees.Should you have paid a total of $1,000 or above in cash wages in any quarter of 2021 or 2022 to household employees, you must report any Federal Unemployment (FUTA) Tax on Schedule H (Form 1040). Additionally, you must file any income tax that you have withheld from your household workers.
18. Individuals -If you wish to extend the filing of your 2022 Form 1040 or Form 1040-SR, file Form 4868 and make sure to pay the estimated amount of tax due; this will protect you from incurring penalties and interest. To ensure all necessary information is provided, take a look at the detailed instructions on Form 4868.
18. Individuals – Should you not pay your 2023 income tax through withholding, or do not pay a sufficient amount of tax throughout the year in this way, kindly remit the first instalment of your 2023 estimated tax.
You can potentially lower the risk of incurring penalties due to insufficient estimated tax payments by increasing your withholding taxes. Late payments may also incur penalties.
You can potentially avoid the “Underpayment of Estimated Tax by Individuals Penalty” by paying at least 90% of the tax on the current year’s return or by paying the full amount of the previous year’s tax, whichever is lesser.
