It’s a new year, which creates a lot of reasons for celebrations. But as the year progresses, there are several deadlines related to taxes, reporting and new regulations you should be aware of in the upcoming year.
The compliance calendar has been created to assist you throughout the year so you can stay up to date and not up late.
Now let’s get into the fun stuff that’s included in this year’s compliance calendar:
Minimum Wage
Several states have increased their minimum wages, effective January 1, 2024. There are other states who have increase that are effective in the latter months of the year. Some states like California, Maryland and New York have county and citywide increases you should be aware of as well.
Parental Leave & Other Mandatory Leaves
Several states will have new parental or maternity leave policies in place, which are designed to assist parents with taking time off to care for their new born baby. This includes adoption and foster care placements. Other states will be extending bereavement and domestic violence victim leave. These programs in some cases are funded by the state, and contributed by the employer through a special fund.
Tax & Reporting Deadlines
Most employers are aware of the tax filing deadlines, but some of the deadlines have changed due to the leap year. Below is the chart of the deadlines that are included in the calendar. Download you copy today!
Deadlines for 2024
January
January 9th – Failure to File Deadline for EEO-1 Component 1
January 31st IRS Form 940: Report annual FUTA (Federal Unemployment Tax Act) tax.
January 31st – Distribute W-2s and 1099-MISC (Paper & E-File)
January 31st – Form W3 Transmittal of Wage and Tax Statements
January 31st – Quarterly Forms 941 & 720 due
January 31st – Form 1099-NEC to both the IRS and to recipients
January 31st – Due Date for Form 1099-MISC with only boxes 8 & 10 to be sent to the recipient
January 31st Form 945 Annual Return of Withheld Federal Income Tax
January 31st – File Form 944 Employers Annual Federal Tax Return if instructed by the IRS to use this form instead of the 941
February
February 1st – Post OSHA Form 300A
February 15th – 1099-B, 1099-S, 1099-MISC (if amounts are reported in boxes 8 or 10) Due to Recipients
February 28th – 1099-MISC without NEC to IRS (If paper filing)
February 28th – Form 8809 Paper Filing Deadline
February 28th – Forms 1094-B and 1095-B filed to the IRS for paper filing
February 28th – Forms 1094-C and 1095-C filed to the IRS for paper filing
February 28th – Form 8027 Employer’s Annual Information Return of Tip Income and Allocated Tips
February 29th – Creditable Coverage Disclosure to CMS (for calendar year plans)
February 29th – File Form 8922 for corrections
March
March 1st – Distribute 1095-B & 1095-C Forms to employees
March 1st – HIPAA Breach Employee Notification
March 1st – Form M-1 (MEWA) Filing Deadline
March 1st – Medicare Part D Disclosures to CMS
March 2nd – Electronically submit OSHA Form 300A
March 15th – Form 8809 E-filing deadline
March 15th – S Corp (Form 1120-S) and Partnership (Form 1065) Tax Returns due
March 15th – Form 2553 due (for S Corp)
March 31st – Form 1099-MISC due if reporting NEC in box 7
March 31st – DC Deadline for Reporting Sexual Harassment Claims
March 31st – Deadline to file Form 1099s (Electronic)
March 31st Forms 1094-B and 1095-B Due (Filing Electronically)
April
April 1st – 1094-C and 1095-C to the IRS Filing Electronically
April 15th – Tax Day (filing deadline for personal tax returns & C corporations
April 15th – Forms 8928 Filing Deadline
April 16th – LA Income Tax Deadline
April 28th – Summary Plan Description (SPD) due after 30-90 days after coverage
April 30th – Quarterly Form 941 & 720 due
May
May 1st – VA Income Tax Filing Deadline
May 15th – Non-Profit Tax Returns due, including Form 990 (Form 990, 990-N, 990-EZ, 990-PF)
June
June 17th – Military personnel and other taxpayers living outside the US
June 17th – Estimated tax payments for the 2nd quarter
July
July 31st – Quarterly Form 941 & 720 due
July 31st – Forms 5500 Due to DOL
July 31st – Use Form 8858 Application for Extension of Time To File an Exempt Organization Return
August
No Deadlines
September
September 29th – SAR Furnish to covered participants for calendar year plans deadline
October
October 3rd – QSEHRA Notice Deadline (for QSEHRAs that begin January 1, 2024)
October 3rd – RDS Application Due to CMS (for plan years beginning in January 1, 2024)
October 15th – Medicare Part D Notice of Creditable Coverage delivered to plan participants
October 15th – Extension for filing income taxes deadline if granted
October 31st – Quarterly Form 941 & 720 due
November
No Deadlines
December
December 15th – Provide SAR (extended deadline)
December 29th – Nondiscrimination testing, 401K plans, 125 Premium Only Plans (POP), and flexible spending account (FSA) nondiscrimination testing (if on calendar plan year)
December 31st – Submit gag clause attestation
If you are in need of additional assistance or seek clarification on any of the deadlines mentioned, please feel free to connect with me.
