Sudhir Tax

January 2023 Important Business Due Dates

January 3 – Payment of social security tax for employers from 2020~

For employers who have deferred payment of employer’s portion of social security tax or railroad pension tax equivalent in 2020, his remaining 50% of the deferred amount of employer’s portion of social security tax will be due on January 3. It must be paid by the due date of 2023. Payments or deposits made prior to January 3, 2022, less any applicable amounts for required payments dated January 3, 2022, are due by January 3, 2023.

January 17th – Monthly Employer Deposit Payment Deadline –

If you are an employer and monthly filing rules apply, January 17 is his December 2022 Social Security, Medicare, and withholding tax filing deadline. If the monthly deposit rule applies, this is also the due date for his non-payroll dependent deposit in December 2022. Payroll tax returns must be electronic (no paper coupons). January 17 – Farmers and Fishermen –

Use Form 1040-ES to pay your estimated taxes for 2022. You must file your 2022 income tax return (Form 1040 or Form 1040-SR) by April 18. If you don’t pay your estimated tax by January 17, you must file your 2022 tax return and pay your taxes by March 1, 2023 to avoid an estimated tax penalty.

Jan 31 – NEC in 1099 by Service Providers and IRS –

If you are a business or rental property owner and paid individuals (excluding employees) $600 or more in nonemployee compensation in 2022, pay those employees a 1099-NEC by January 31. Must be provided. “Non-employee Compensation” means payments, commissions, fees and materials for services rendered to your business or rentals by non-employees, prizes and rewards for services rendered, cash purchases of fish, oil and oil It can mean payment. Gas labour participation. A copy of your 1099-NEC must also be sent to the IRS by January 31, 2023 to avoid the penalty. The 1099-NEC must be submitted in optically scannable (OCR) form. This company creates his OCR formatted 1099 form for filing with the IRS using the 1096 filing form. This service provides a copy of both the recipient and the file for your records. Businesses or individuals who need to submit more than 250 information statements (such as 1099s and W-2s) are required to submit these forms electronically.

January 31 – Form 1098 and other 1099 forms distributed to recipients –

Form 1098 (Mortgage Statement) and Form 1099 (including 1099-NEC (see above)) must be received by January 31st. A copy of the IRS, excluding 1099-NEC, must be filed by February 28, 2023 or March 2, 2023, 31 March 2023 if filed electronically. These 1099 may report the following types of income:

  • Dividends and other corporate distributions
  • Interest
  • Rent
  • Royalty
  • Payment of Indian gambling winnings to tribal members
  • Profit sharing distribution
  • Distributions from pension plans
  • Original version discount
  • Prizes and Awards
  • Medical and Healthcare payments
  • Debt forgiveness (treated as a payment to the debtor)

January 31 – Employer – his W-2 to all employees and the government –

Employee copy:
All employers are required to provide their employees with a copy of the 2022 W-2 form. If the employee agrees to receive her W-2 form electronically, post it on her website and notify the employee of the posting. Government copy:
Your W-2 Copy A and Form W-3 submissions, whether submitted electronically or on paper, must be submitted to the Social Security Administration by January 31st.

January 31 – File Form 941 and Submit Unfiled Taxes –

Submit your Form 941 for the fourth quarter of 2022. Pay all unfiled Social Security, Medicare, and withheld income taxes. (If you owe less than $2,500, you can pay the full amount by filing your tax return on time.) February 10, if you paid all taxes in full on time for the quarter. You must submit your tax returns by

January 31 – File Form 943 –

All farm employers must file Form 943 to report 2022 Social Security, Medicare and income tax withholdings. Declare all undeclared taxes. (If your tax liability is less than $2,500, you can pay the full amount on your timely tax return.) If you paid your taxes in full for the year on time, you must file your tax return must be submitted by February 10.

Jan 31 – His W-2G payment from gambling winnings payer –

If you have paid reportable gambling winnings or withheld income tax from gambling winnings, please provide a copy of the 2022 W-2G Form to the winner. January 31st ~ Those who need to pay estimated tax ~

A person who has a fixed amount of tax to be paid. If he has not paid his previous estimated tax by January 17, he may file his 2022 income tax return (Form 1040 or Form 1040-SR) by January 31 (mandatory is not). You can avoid penalties for late payment of the last instalment by paying your taxes by January 31st. If you cannot file and pay the tax by January 31st, please file and pay the tax by April 18th.

January 31 – File Form 940 – Federal Unemployment Tax –

File format 940 2022. If your undeclared taxes are $500 or less, you can pay them on your tax return or file them. Anything over $500 needs to be deposited. However, if you paid your taxes in full for the year on time, you must file your tax return by February 10.

January 31 – File Form 945 –

By filing Form 945, his 2022 year for all non-salary items including pensions, annuities, IRA, gambling winnings, backup withholding and withholding of payments to tribal members of Indian gambling winnings Report income tax withholding. Deposit or pay undeclared taxes. (If you owe less than $2,500, you can pay the full amount by filing your return in a timely manner.) If you filed your taxes for the year timely, properly, and completely, You have 10 days to submit your return statement.


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