Compliance Calendar

Deposit Social Security, Medicare, and Withheld Income Tax

1 February, 2021 at 6 AM-2 February, 2021 at 5 59 AM

Last day to furnish Form W-2, Wage and Tax Statement, to employees to report wages, allocated tips, and amounts withheld from wages in 2020. If an employee agreed to receive Form W-2 electronically, have it posted on a website and notify the employee of the posting. (Retired employees should be given Form 1099-R.)

Last day to mail or electronically file Copy A of Form(s) W-2 and W-3 with the SSA.

File Form 1099-NEC, Nonemployee Compensation, with the IRS for reporting nonemployee compensation paid in 2020.

If you either paid reportable gambling winnings or withheld income tax from gambling winnings you paid in 2020, give the winners Form W-2G.

Last quarterly return (Form 941) must be filed by employers to report social security, Medicare, and withheld income tax for the fourth quarter of 2020. Deposit or pay any undeposited tax under the accuracy of deposit rules. If the tax liability is less than $2,500, it can be paid in full with a timely filed return. (Employers that deposited all of the tax when due have until February 10 to file Form 941.)

File Form 945 to report income tax withheld for 2020 on all nonpayroll items, including backup withholding and withholding for pensions, annuities, and gambling winnings. Deposit or pay any undeposited tax under the accuracy of deposit rules. If the tax liability is less than $2,500, it can be paid in full with a timely filed return. (Employers that deposited all of the tax when due have until February 10 to file Form 945.)

Certain small employers must file Form 944 to report social security and Medicare taxes, and withheld income tax for 2020. Deposit or pay any undeposited tax under the accuracy of deposit rules. If the tax liability is $2,500 or more for 2020 but less than $2,500 for the fourth quarter, deposit any undeposited tax or pay it in full with a timely filed return. (Employers that deposited all of the tax when due have until February 10 to file Form 944.)

Agricultural employers must file Form 943 to report social security, Medicare, and withheld income tax for 2020. Deposit or pay any undeposited tax under the accuracy of deposit rules. If the tax liability is less than $2,500, it can be paid in full with a timely filed return. (Employers that deposited all of the tax when due have until February 10 to file Form 943.)

Employers must file Form 940 to report annual Federal Unemployment Tax Act (FUTA) tax for 2020. If your undeposited tax is $500 or less, you can either pay it with your return or deposit it. If it is more than $500, you must deposit it. (Employers that deposited all of the tax when due have until February 10 to file Form 940.)

Furnish Copy B of Form 3921 to an employee where there has been a transfer of stock to the employee pursuant to the employee's exercise of an incentive stock option in 2020.

Furnish Copy B of Form 3922 to an employee where there has been a first transfer of stock to the employee in 2020 acquired through an employee stock purchase plan.

An Applicable Large Employer is usually required to provide Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, to full-time employees by January 31. All other providers of minimum essential coverage are usually required to provide Form 1095-B, Health Coverage, to responsible individuals by January 31. Notice 2020-76 extended the due date for furnishing Form 1095-C to employees to March 2, 2021. Notice 2020-76 also extended the due date for furnishing Form 1095-B to individuals to March 2, 2021. Despite the extension provided in Notice 2020-76, the IRS encourages employers and other coverage providers to furnish the 2020 statements as soon as they are able. The due dates for filing Forms 1094-B, 1095-B, 1094-C, and 1095-C, with the IRS remains March 1, 2021, if not filing electronically, or March 31, 2021, if filing electronically.

Shortfall deposits by semi-weekly depositors for deposits made January 4 to 6 for 2020 liabilities.

Shortfall deposits or payments by monthly depositors for deposits made November 16, 2020, December 15, 2020, and January 15, 2021.