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  • Writer's pictureMichael Wright

End of Year Deadlines for tax reporting

Each Quarter organizations with W2 employees Must Submit Federal and State withholding tax reports.

Form 941, which is the federal income tax withholding tax return is generally due by the last day of the month following the end of the quarter. For example, you're required to file Form 941 by April 30 for wages you pay during the first quarter, January through March. Most states follow the same due dates as the IRS. Be sure to check with your state to verify the exact due date.

For the end of the calendar year Employers must complete, file electronically or by mail with the Social Security Administration (SSA), and furnish to their employees Form W-2, Wage and Tax Statement (PDF) showing the wages paid and taxes withheld for the year for each employee. Because employees' social security and Medicare benefits are computed based on information on Form W-2, it's very important to prepare Form W-2 correctly and timely. You must furnish Copies B, C, and 2 of Form W-2 to your employees by January 31, 2020.

1099 Deadlines for 2019

The January 31st deadline only applies to Form 1099-MISC with an amount in box 7, Nonemployee Compensation. The filing due date for other Forms 1099 & 1096 remains February 28th, 2020 if filing by paper, and March 31st, 2020 if filed electronically.

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