As we move into the third quarter of 2024, it’s important for businesses and employers to be aware of key tax-related deadlines. Below is a list of significant dates to keep in mind. Note that this list may not cover all applicable deadlines for your specific situation, so it’s advisable to consult with a tax professional to ensure compliance with all requirements.
July 15
- Social Security, Medicare, and Withheld Income Taxes: Employers must deposit these taxes for June if the monthly deposit rule applies. This includes nonpayroll withheld income taxes for June.
July 31
- Form 941: Employers need to report income tax withholding and FICA taxes for the second quarter of 2024 and pay any due taxes. (An exception applies if you meet the conditions listed under August 12.)
- Retirement Plan Report: File the 2023 calendar-year retirement plan report (Form 5500 or Form 5500-EZ) or request an extension if necessary.
August 12
- Form 941: Report income tax withholding and FICA taxes for the second quarter of 2024 if you deposited all associated taxes on time and in full.
September 16
- Estimated Income Taxes: Calendar-year C corporations must pay the third installment of 2024 estimated income taxes.
- Income Tax Return for S Corporations and Partnerships: If you filed for an automatic six-month extension, submit your 2023 income tax return (Form 1120-S, Form 1065, or Form 1065-B) and pay any taxes, interest, and penalties due.
- Retirement Plan Contributions: Make contributions for 2023 to certain employer-sponsored retirement plans.
- Social Security, Medicare, and Withheld Income Taxes: Employers must deposit these taxes for August if the monthly deposit rule applies, including nonpayroll withheld income taxes for August.
For personalized guidance and to ensure you’re meeting all applicable deadlines, contact us today at 203-925-9600 or [email protected].
