November 2020 Tax Due Dates

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During November

  • Employers – Income Tax Withholding. Ask employees whose withholding allowances will be different in 2021 to fill out a new Form W-4. The 2021 revision of Form W-4 will be available on the IRS website by mid-December.

November 2

  • Employers – Social Security, Medicare, and withheld income tax. File form 941 for the third quarter of 2020. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until November 10 to file the return.
  • Certain Small Employers – Deposit any undeposited tax if your tax liability is $2,500 or more for 2020 but less than $2,500 for the third quarter.
  • Employers – Federal Unemployment Tax. Deposit the tax owed through September if more than $500.

November 10

  • Employees Who Work for Tips – If you received $20 or more in tips during October, report them to your employer. You can use Form 4070.
  • Employers – Social Security, Medicare, and withheld income tax. File Form 941 for the third quarter of 2020. This due date applies only if you deposited the tax for the quarter in full and on time.

November 16

  • Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in October.
  • Employers – Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in October.

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.