The 2022 tax season is just around the corner. To help you get ready, we wanted to put together a list of the most important 2022 tax deadlines that affect you and your business.
2021 Remaining Deadlines
As we look toward 2022, there are still a few deadlines and windows in the remainder of 2021.
The Open Enrollment window for Marketplace Insurance tied to the Affordable Care Act runs from November 1, 2021, to January 15, 2022. If you want your insurance to take effect immediately on January 1st, you need to select your plan by December 15, 2021.
Another deadline yet not past in 2021 is the deadline to maximize 401k contributions. You can still make contributions up to and including December 31, 2021.
IRS Publication 509
In the draft IRS Publication 509, the Internal Revenue Service outlines some of the newest changes and reminders for the 2022 tax season. Some of those reminders include:
- Payment of Deferred Employer or Employee Share of Social Security Tax of 2020: If you are an employer or employee who deferred paying their share of social security or railroad retirement tax equivalent in 2020, 50% of the share is to be made by January 3, 2022, and then applied against the payment due on January 3, 2023.
- Useful Publications: lists are included to help you navigate the previous IRS publications that pertain to employers, farmers, individuals, and those required to pay excise taxes.
W-2s and 1099-NEC
There are currently no changes to the process or form make-up as it pertains to the 1099-NEC that reports non-employee compensation. The deadline for these to be sent out is January 31, 2022.
Tax Year Deadlines
For employers, the due date for December 2021’s social security, Medicare, and withheld income tax is January 18, 2022, if the monthly deposit rule applies. The subsequent monthly deadlines fall on the following dates in 2022: February 15, March 15, April 18, May 16, June 15, July 15, August 15, September 15, October 17, November 15, and December 15.
For Partnerships and S Corporations, you will need to file your 2021 calendar year return by March 15, 2022. The deadline for corporations is April 18, 2022.
Right now, the state income tax deadline in most states is April 18, 2022. The IRS tax returns are due on the same day.
For estimated tax payments, each payment is due on the 15th day of the 4th, 6th, and 9th months of your tax year and the 15th day of the 1st month after your tax year ends.
Head into the New Year with Confidence
As the 2022 tax season approaches, there are several COVID-era changes and many other new introductions to the tax code. And that means more effort on the part of your businesses and your staff.
eFile360 is the most cost-effective way to e-file your information returns – we support 1099, 1098, W-2, and ACA (Affordable Care Act) forms.
Sign up for a free eFile360 account to help ease the burden of your business tax responsibilities!