2020 Q4 Tax Calendar: Key Deadlines for Businesses
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.
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).
(This is Blog Post #890)
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About the Author: Roger Rossmeisl, CPA
Roger Rossmeisl, CPA, brings over 40 years of experience helping small business owners who have outgrown their current CPA firm and larger companies seeking responsive, cost-effective solutions they’re not receiving from their current CPA Firm. He goes beyond tax compliance, explaining the “why” behind the numbers and their impact on cash flow and other decision making.
An avid follower of federal monetary policy, Roger adds insight into how government actions affect business and wealth. With a niche in franchised new vehicle dealerships, he has served over 100 franchise stores and groups through decades of evolving IRS rules and legislation.
