December 2020 Tax Due Dates

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December 10

  • Employees who work for tips – If you received $20 or more in tips during November, report them to your employer. You can use Form 4070.

December 15

  • Corporations – Deposit the fourth installment of estimated income tax for 2020. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.
  • Employers Social Security, Medicare, and withheld income tax – If the monthly deposit rule applies, deposit the tax for payments in November.
  • Employers Nonpayroll withholding – If the monthly deposit rule applies, deposit the tax for payments in November.

Any accounting, business or tax advice contained in this article, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.