Tax Law and News February 2022 tax and compliance deadlines Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Intuit Accountants Team Modified Jan 26, 2022 2 min read Welcome to the February 2022 list of important tax and compliance deadlines. Tax season has begun, but it’s still important to pay attention to important tax deadlines for your clients for 2022. Be sure to share this list with your clients. In February, it’s recommended that you: Send reminders to individual clients who have not returned tax preparation packets or scheduled appointments. Review pros and cons of S corporation election with eligible corporate clients. Remind partnerships of the March 15 return filing deadline. Key Compliance Dates: Wednesday, Feb. 2 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on January 26–28. Friday, Feb. 4 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on January 29–Feb. 1. Wednesday, Feb. 9 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 2–4. Thursday, Feb. 10: Employers file Form 941, Employer’s Quarterly Federal Tax Return, for the fourth quarter of 2021 if tax for the quarter was deposited in full and on time. Employers file Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, for 2021 if tax for the year was deposited in full and on time. Tipped employees who received $20 or more in tips during January report them to the employer on Form 4070, Employee’s Report of Tips to Employer. Friday, Feb. 11 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 5–8. Tuesday, Feb. 15 – Monthly depositors deposit FICA and withheld income tax for January. Wednesday, Feb. 16: Claims for 2021 exemption from income tax withholding expire; employers must begin withholding tax unless employee has submitted a new W-4 to continue exemption for 2022. Monthly depositors deposit FICA and withheld income tax for January. Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 9–11. Friday, Feb. 18 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 12–15. Thursday, Feb. 24 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 16–18. Friday, Feb. 25 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 19–22. Monday, Feb. 28 Large food and beverage establishment employers file Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips; use Form 8027-T, Transmittal of Employer’s Annual Information Return of Tip Income and Allocated Tips, if reporting for more than one establishment. Electronic filers see March 31. File information returns (other than Form 1099-NEC returns for non-employee compensation) with the IRS for payments made in 2021. Electronic filers have until March 31. Form 1099-NEC returns were required to be filed by January 31. Intuit Accountants Resources: The February 2022 calendar with filing deadlines and reminders for you and your clients. Key tax facts for 2021 State tax deadlines As always, visit Intuit Accountants for more information and training resources. Previous Post How small business owners can deduct their home office from… Next Post Social Security benefits may be taxable Written by Intuit Accountants Team The Intuit® Accountants team provides ProConnect™ Tax, Lacerte® Tax, ProSeries® Tax, and add-on software and services to enable workflow for its customers. Visit us at https://proconnect.intuit.com, or follow us on Twitter @IntuitAccts. More from Intuit Accountants Team Comments are closed. Browse Related Articles Practice Management Consultant spotlight: Corey Spear Practice Management Consultant spotlight: Jason Tritle Practice Management Consultant spotlight: Drew Hickman Tax Law and News Accountant’s guide to secure file sharing Practice Management Top 7 advantages of choosing a firm niche Advisory Services Your firm: Maximizing value over volume Practice Management ProSeries® Tax spotlight: Nayo Carter-Gray, EA, MBA Practice Management Consultant Spotlight: Katherine Weiler Webinars Technology and Your Clients: Dec. 19 Webinars Escalating IRS Correspondence: Dec. 17