In November, several tax-related deadlines are important for both individuals and businesses. Here’s a summary:
For Individuals:
November 14, 2024: If you filed for an extension on your 2023 federal income tax return, this is the extended deadline to submit your return. Ensure all necessary documents are filed to avoid penalties.
For Businesses:
November 10, 2024: Employees who received $20 or more in tips during October must report them to their employer using Form 4070.
November 15, 2024: Monthly depositors must deposit Social Security, Medicare, and withheld income tax for payments made in October. Additionally, semiweekly depositors should deposit FICA and withheld income tax on wages paid during specific periods in November.
November 27, 2024: Semiweekly depositors must deposit FICA and withheld income tax on wages paid from November 20-22.
It’s crucial to adhere to these deadlines to avoid penalties and ensure compliance with tax obligations. For a comprehensive view of all tax deadlines, the IRS provides an Online Tax Calendar that can be customized to your specific needs.