PPP and COVID-19 Tax Updates and Information

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Tax Due Dates 2021

Tax Due Dates for October 2020

Posted on October 1st, 2020

October 13

Employees who work for tips – If you received $20 or more in tips during September, report them to your employer. You can use Form 4070.

October 15

Individuals – If you have an automatic 6-month extension to file your income tax return for 2019, file Form 1040 and pay any tax, interest, and penalties due.

Corporations – File a 2019 calendar year income tax return (Form 1120) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic 6-month extension.

Employers – Non-payroll withholding. If the monthly deposit rule applies, deposit the tax for payments in September.

Employers – Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in September.

November 2

Employers – Social Security, Medicare, and withheld income tax. File form 941 for the third quarter of 2020. Deposit any undeposited tax. (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.

Certain Small Employers – Deposit any undeposited tax if your tax liability is $2,500 or more for 2020 but less than $2,500 for the third quarter.

Employers – Federal Unemployment Tax. Deposit the tax owed through September if more than $500.

Please call our office if you need tax assistance or have accounting questions. We’re here to help.

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