Abstract: This calendar notes important tax deadlines
for the fourth quarter of 2020.
Tax calendar
October 15 — Personal federal income tax returns for 2019 that
received an automatic extension must be filed today and any tax, interest, and
penalties due must be paid.
·
The Financial Crimes Enforcement Network (FinCEN) Report 114,
“Report of Foreign Bank and Financial Accounts” (FBAR), must be filed by today,
if not filed already, for offshore bank account reporting. (This report
received an automatic extension to today if not filed by the original due date
of July 15.)
· If an
extension was obtained, calendar-year C corporations should file their 2019
Form 1120 by this date.
·
If the monthly deposit rule applies, employers must deposit the
tax for payments in September for Social Security, Medicare, withheld income
tax and nonpayroll withholding.
November 2 — The
third quarter Form 941 (“Employer’s Quarterly Federal Tax Return”) is due today
and any undeposited tax must be deposited. (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 in full and on time, you have
until November 10 to file the return.
·
If you have employees, a federal unemployment tax (FUTA) deposit
is due if the FUTA liability through September exceeds $500.
November 16 — If the monthly
deposit rule applies, employers must deposit the tax for payments in October
for Social Security, Medicare, withheld income tax and nonpayroll withholding.
December 15 — Calendar-year
corporations must deposit the fourth installment of estimated income tax for
2020.
· If the
monthly deposit rule applies, employers must deposit the tax for payments in
November for Social Security, Medicare, withheld income tax, and nonpayroll
withholding.
©
2020