January 2021 Business Due Dates
January 15 - Employer’s Monthly Deposit Due - If you are an employer and the monthly deposit rules apply, January 15 is the due date for you to make your deposit of Social Security, Medicare and withheld income tax for December 2020. This is also the due date for the nonpayroll withholding deposit for December 2020 if the monthly deposit rule applies. Employment tax deposits must be made electronically (no paper coupons), except employers with a deposit liability under $2,500 for a return period may remit payments quarterly or annually with the return.
NOTE: Delayed Payment of Employer Payroll Taxes from 2020
The CARES Act allows employers to delay paying 2020 payroll taxes, with 50% of the employer’s share of the 2020 Social Security tax due by December 31, 2021, and the remainder due by December 31, 2022. Any payments or deposits the employer makes before December 31, 2021, are first applied against the payment due on December 31, 2021, and then applied against the payment due on December 31, 2022.
Pay your estimated tax for 2020 using Form 1040-ES. You have until April 15 to file your 2020 income tax return (Form 1040 or Form 1040-SR). If you don't pay your estimated tax by January 15, you must file your 2020 return and pay any tax due by March 1, 2021, to avoid an estimated tax penalty.
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