ACR Financial Services, Taxes, Investments,

January 2021

10- Employees with tips	If you received $20 or more in tips during December, report them to your employer. You can use Form 4070 Employees Report of Tips to Employer.
15- Employers	Social Security, Medicare and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in December of this year.
15- Employers	Nonpayroll Withholding. If the monthly deposit rule applies, deposit the tax for payments in December.
31-Employers	Federal unemployment tax. File Form 940 (or 940-EZ) for this year. If your undeposited tax is $100 or less, you can either pay it with your return or deposit it. If it is more than $100, you must deposit it. However, if you already deposited the tax for the year in full and on time, you have until February 10 to file the return.
31- Employers	Social Security, Medicare, and withheld income tax. File Form 941 for the fourth quarter of this year. 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 February 10 to file the return.
31- Employers	Nonpayroll taxes. File Form 945 to report income tax withheld for this year on all nonpayroll items, including backup withholding and withholding on pensions, annuities, IRAs, gambling winnings, and payments of Indian gaming profits to tribal members. 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 year in full and on time, you have until February 10 to file the return.
31- Employers	Give your employees their copies of Form W-2 for the previous year. If an employee agreed to receive Form W-2 electronically, post it on a website accessible to the employee and notify the employee of the posting by January 31st.
31- Employers	Give annual information Forms 1098, 1099 and W-2G to recipients for certain payments made during the year.

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