February 2024 Business Tax Due Dates
February 12 - Obligations for Non-Payroll Tax Items
Ensure to submit Form 945, reflecting the income tax withheld in 2023 from all non-payroll sources. Adhere to this deadline if you've successfully and punctually fulfilled the entire tax payment for the year.
February 12 - Reporting for Social Security, Medicare, and Withheld Income Tax
It's time to file Form 941 for the last quarter of 2023. This specific deadline is relevant only if the tax for the quarter was fully and promptly settled.
February 12 - Guidelines for Select Small Employers
Small employers should file Form 944 to detail the Social Security and Medicare taxes and withheld income tax for 2023. Ensure compliance with this deadline if the complete tax was deposited timely and accurately.
February 12 - Farm Employers' Reporting
Farm employers must file Form 943, reporting the Social Security and Medicare taxes and withheld income tax for 2023. This deadline is pertinent provided the tax was deposited fully, properly, and within the designated timeframe.
February 12 - Federal Unemployment Tax Compliance
The due date to file Form 940 for 2023 is here. This applies if you've ensured the full and timely deposit of the tax for the year.
February 15 - Comprehensive Business Reminder
Businesses must issue the following information statements to the respective recipients for certain payments made during 2023: Form 1099-B, Form 1099-S, and Form 1099-MISC (particularly if substitute payments are indicated in Box 8 or if gross proceeds to an attorney are in Box 10). These forms can be issued electronically with the recipient's consent.
February 15 - Deposit Requirements for Social Security, Medicare, and Withheld Income Tax
Businesses under the monthly deposit rule should deposit the taxes for January's payments on this date.
February 15 - Compliance for Non-Payroll Withholding
For those under the monthly deposit rule, ensure the deposit of non-payroll tax for January's payments by this date.
February 16 - Payroll Withholding Updates
Businesses should begin withholding from employees who claimed exemption from withholding in 2023 but have not submitted a new W-4 (or W-4(SP)) to maintain their exemption for 2024.
February 28 - Gambling Winnings Reporting
File Form 1096 alongside Copy A of all Forms W-2G issued for 2023 to summarize and transmit gambling winnings. Electronic filers have until April 1. Remember, the deadline for recipient copies was January 31.
February 28 - Deadline for Filing Informational Returns
Submit government copies of 2023's information returns (Forms 1099) and the accompanying transmittal Forms 1096, excluding the 1099-NECs due by January 31. Note the specific 1099 forms based on the type of payment.
February 28 - Reporting for Applicable Large Employers (ALE)
ALEs should file paper Forms 1094-C and 1095-C, while other coverage providers should file Forms 1094-B and 1095-B. Electronic filing extends your deadline to April 1. Refer to the respective form instructions for detailed reporting requirements.
February 29 - Specifics for Large Food and Beverage Establishments
Submit Form 8027 to report annual tip income and allocated tips. Use Form 8027-T for summarizing and transmitting if you operate multiple establishments. Electronic filers have an extended deadline until April 1.