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2020 Q4 tax calendar: Key deadlines for businesses and other employers

Posted by Matt Evans Posted on Oct 11 2020

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2020. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.

Thursday, October 15

  • If a calendar-year C corporation that filed an automatic six-month extension:
    • File a 2019 income tax return (Form 1120) and pay any tax, interest and penalties due.
    • Make contributions for 2019 to certain employer-sponsored retirement plans.

 

Monday, November 2

  • Report income tax withholding and FICA taxes for third quarter 2020 (Form 941) and pay any tax due. (See exception below under “November 10.”)

 

Tuesday, November 10

  • Report income tax withholding and FICA taxes for third quarter 2020 (Form 941), if you deposited on time (and in full) all of the associated taxes due.

 

Tuesday, December 15

  • If a calendar-year C corporation, pay the fourth installment of 2020 estimated income taxes.

 

Thursday, December 31

  • Establish a retirement plan for 2020 (generally other than a SIMPLE, a Safe-Harbor 401(k) or a SEP).

© 2020

This blog is published to provide you with an informative summary of current business, financial, and tax planning opportunities.  Do not apply this general information to your specific situation without additional details.  Be aware that the tax laws contain varying effective dates and numerous limitations and exceptions that can not be summarized easily.  For details and guidance in applying the tax rules to your specific circumstances, please contact us.