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Q4 tax deadlines for individuals, businesses, and employers

With the fourth quarter of 2022 just beginning, there are some important Q4 dates & deadlines affecting individuals, businesses, and employers to notate on your Outlook calendar.

Here’s some of those important dates:

Monday, October 3

  • If you are an individual with a trust or estate that filed an automatic five-and-a-half-month extension:
    • The due date to file a 2021 TRUST income tax return (Form 1041) and pay any tax, interest, and penalties that may be due.
  • If you are an employer that had no more than 100 employees with $5,000 of compensation during the preceding calendar year:
    • The last day you can initially set up a SIMPLE IRA plan.
      • NOTE #1: This only applies if you (or any predecessor employer) didn’t previously maintain a SIMPLE IRA plan.
      • NOTE #2: If you’re a new employer that comes into existence after October 1 of the year, you can still establish a SIMPLE IRA plan after October 1 as long as you create the Plan as soon as administratively feasible after your business comes into existence.

Monday, October 17

  • If you are an individual that filed an automatic six-month extension:
    • The due date to file a 2021 PERSONAL income tax return (Form 1040) and pay any tax, interest, and penalties that may be due.
    • The final day to contribute to your Simplified Employee Pension (2021 SEP) to avoid penalties.
    • The final day to withdraw excess IRA contributions in 2021 to avoid penalties.
  • If a calendar-year C corporation that filed an automatic six-month extension:
    • The due date to file a 2021 CORPORATION income tax return (Form 1120) and pay any tax, interest, and penalties that may be due.
    • The final day to make contributions to certain employer-sponsored retirement plans.

Monday, October 31

  • If you are an employer with payroll:
    • The due date to report and remit income tax withholding and FICA taxes for third quarter 2022 (Form 941) and pay any tax due. (See exception below.)

Thursday, November 10 (Exception to October 31 above)

  • If you are an employer with payroll:
    • The due date to report income tax withholding and FICA taxes for third quarter 2022 (Form 941) if you deposited on time (and in full) all the associated taxes due.

Thursday, December 15

  • If a calendar-year C corporation:
    • The due date to pay the fourth installment of 2022 estimated income taxes.

Saturday, December 31

  • If you are an individual:
    • Final Day to make a TRADITIONAL IRA-to-ROTH CONVERSION
    • The final day to make Required Minimum Distribution (RMD) by Individuals 73 and older for 2022.

Please note that certain tax-filing and tax-payment deadlines may be postponed for those affected taxpayers who reside in or have businesses located in federally declared disaster areas. You can visit www.irs.gov/newsroom/tax-relief-in-disaster-situations to see the IRS tax relief provisions based on the disaster situation.

Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Make sure to contact your Wegner CPAs tax advisor if you’d like more information about the filing requirements and to ensure you’re meeting all applicable deadlines.

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