2021 Tax Calendar for Businesses

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Obuasi The IRS provides these handy calendars:

The Tax Calendar for Businesses and Self Employed shows due dates by month.  You may also filter by event type.

If you wish to have reminders sent to your email, follow these instructions.

You may also install a Desktop Calendar Tool.

Or download the IRS Outlook Tax Calendar.

http://cjni.com/bio-robert-crawford/ Income Tax Calendar

February 1, 2021 All businesses –
  • If required, provide 1099-MISC or 1099-NEC to businesses and/or individuals.  This includes payments made by the trade or business for rent, royalty, interest, services or other payments when the amount paid to the party is greater than or equal to $600.  Form 1099 is not required to be remitted if the recipient is incorporated.  To determine if you are required to file Form 1099, please see the IRS article on the subject.
  • All businesses subject to reporting individual health coverage – this is the deadline to provide employees with Form 1095-B or Form 1095-C. See the IRS article to determine if you are subject to the health care filing requirement.
March 1, 2021 If you’re an Applicable Large Employer, file paper Forms 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns, and 1095-C with the IRS. For all other providers of minimum essential coverage, file paper Forms 1094-B, Transmittal of Health Coverage Information Returns, and 1095-B with the IRS.  If you’re filing any of these forms with the IRS electronically, your due date for filing them will be extended to March 31.
March 15, 2021 S Corps – File Form 1120S for calendar year.  Furnish Schedule K-1 to each shareholder.  For automatic 6-month extension, file Form 7004.

Partnerships – File Form 1065 for calendar year 2019.  Furnish Schedule K-1 to each partner.  For automatic 6-month extension, file Form 7004.
March 31, 2021 If you’re an Applicable Large Employer, electronically filing Forms 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns, and 1095-C with the IRS. For all other providers of minimum essential coverage, file Forms 1094-B, Transmittal of Health Coverage Information Returns, and 1095-B with the IRS.
May 15, 2021 C Corporations – File Form 1120 for calendar year and pay any tax due.  For automatic 3-month extension, file Form 7004 and deposit estimated tax.  NOTE:  For 2021, the deadline to file this return was extended from April 15, 2021 to May 15, 2021

C Corporations – deposit second installment of estimated taxes due for 2021
September 15, 2021 C Corporations – deposit third installment of estimated taxes due for 2021.

S Corporations – File Form 1120S if you timely requested a 6-month extension for tax year 2020.

Partnerships – File Form 1065 if you timely requested a 6-month extension for tax year 2020.
October 15, 2021 C Corporations – file Form 1120 if you timely requested a 3-month extension for tax year 2020.
December 15, 2021 C Corporations – deposit fourth installment of estimated taxes due for 2021.

Employer Federal Payroll Taxes

Find Federal Employer Withholding Tax due dates  by deposit schedule here.

Employer Ohio Payroll Taxes

Ohio Form IT-501 – Employer’s Payment of Ohio Tax Withheld

Quarterly filers Payment is due the last day of the following month.
Monthly filers Payment is due the 15th day of the month following the end of the quarter.

Ohio Form IT-941 – Ohio Employer’s Annual Reconciliation of Income Tax Withheld

All filers Due January 31st

 

Employer Municipal Withholding Tax

Monthly Filers Businesses with annual municipal taxes withheld over the previous year that exceeded $2,399 or exceeded $200 in any month during the previous quarter.

Payment is due on the 15th day of the month following the month in which the tax was withheld.
Quarterly Filers Businesses with annual municipal taxes withheld between $200 and $2,399 over the previous year.

Payment is due on the 15th day of the month following the end of the quarter.
Annual Filers Businesses with estimated annual municipal tax liability under $200.
Exception Some municipalities may require an employer which withheld $12,000 or more in the preceding calendar year or more than $1,000 in any month of the preceding calendar year in their respective municipality to file on a semi-monthly basis.

Due dates for the semi-monthly filers are 3 banking days after the 15th of the month and 3 banking days after the end of each month.

For more information on municipal taxes, see our article on House Bill 5.

Employer School District Withholding Tax

Form SD 101 – Employer’s Payment of School District Taxes Withheld

Quarterly filers Payment is due the last day of the month following the end of the quarter.
Monthly filers Payment is due the 15th day of the following month.

Form SD 141- Employer’s Annual Reconciliation of School District Income Tax Withheld

All filers Due January 31st

Ohio Commercial Activity Tax

Quarterly Filers Businesses with annual taxable gross receipts in excess of $1 million must file and pay returns on a quarterly basis.

1st Quarter – Due May 10
2nd Quarter – Due August 10
3rd Quarter – Due November 10
4th Quarter – Due February 10
Annual Filers Businesses with taxable gross receipts between $150,000 and $1 million in a calendar year must pay the annual minimum tax.

Due date – May 10

For more information on Ohio’s CAT Tax, see the Ohio Department of Taxation’s article.

Sales Tax

Monthly Filers For vendors and sellers whose tax liability per six-month period is $1,200 or greater.

Monthly sales tax returns are due by the 23rd of the month following the period being filed.
Semi-Annual Filers For vendors and sellers whose tax liability is less than $1,200 per six-month period.

Semi-annual returns are due on Jan. 23 and July 23 for the previous six-month filing periods.

See the article on the Ohio Department of Taxation website for additional information.