W-2 and W-4: What They Are and When to Use Themįorm 1099-NEC Copy A and B filing deadline.The deadline for both is January 31, 2022.
If you have employees, you’ll need to fill out two copies of Form W-2 for each one. We’ll take both headaches-bookkeeping and taxes-off your hands, for good. With these teams, you’ll have a tax planning session to ensure you are more prepared for next year. We’ll set you up with a dedicated team of bookkeepers and a tax team to provide year round tax advice and file your taxes for you. If you’d rather have someone else handle your bookkeeping and federal income tax filing, check out Bench. The due dates for these 2022 payments are April 18, June 15, September 15, and January 16 (2023). These are called estimated tax payments and you can think of them as a prepayment of your income and self-employment taxes (Medicare and social security). If you’re self-employed, your business probably pays taxes in four sums throughout the year, rather than on one day. Otherwise, you can e-file your return before midnight on your tax filing deadline day. If you’re sending your return via snail mail, the IRS considers your return “on time” if it’s addressed correctly, has enough postage, and is in the mail before the end of business on your filing deadline. Regardless of whether you can pay your small business taxes, it always pays off to file on time. The penalty for late payment is 0.5% of the taxes owed each month compared to 5% for late filing. Even if you successfully apply for an extension, the payment deadlines don’t change.
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