In this article, we’re going to show you the important tax deadlines & quarterly and year-end dates for those users who are using QuickBooks Payroll Basic, Standard, enhanced, and QuickBooks Assisted Payroll. Read this article, if you want to be aware of the important deadlines and dates in the quarter or year-end for tax filing like Federal form 941, the deadline for the State Tax form, and many more like this. If you have an issue related to it then contact us for any help through Toll-Free No:+1-844-405-0904
Table of Contents
For QuickBooks Payroll Basic, Standard, and Enhanced
Important Quarterly Filing Dates
All the paychecks that are dated within a calendar quarter are included in the quarter’s wage information and it doesn’t matter when the ending date of the pay period lies.
These are the Calender’s Quarter
- Quarter 1 (Q1): 1st January to 31st March
- Quarter 2 (Q2): 1st April to 30th June
- Quarter 3 (Q3): 1st July to 30th September
- Quarter 4 (Q4): 1st October to 31st December
March 31, June 30, September 30, and December 31
The ending date of each quarter i.e. Q1, Q2, Q3, and Q4 are March 31, June 30, September 30, and December 31 respectively.
All the paychecks which are dated in the quarter will be included in the first quarter 941 and state tax filings, no matter what their ending dates are.
April 30, July 31, October 31, and January 31
April 30, July 31, October 31, and January 31 are the due dates for the following forms.
- Deadline For Federal Form 941 Filing: The last day of the month after the end of the quarter is the due date for filing federal form 941. Remember that, it doesn’t affect the scheduled tax payment for 941 in any way.
- Deadline For Most of the State Tax Filing: The last day of the month after the end of the quarter is the due date for filing most of the State Tax forms. If you want to have detailed info then you can visit the Payroll Tax Compliance official website and there, go to the Tax Form tab and provide information like State and then you can see your State forms filing due dates.
NOTE: It is recommended you submit and file tax before the due date as soon as possible because, at the end of the quarter, most of the agencies are busy which can cause some delay in the process.
Important Year-end Deadlines and Due dates
Here are the year-end filing deadline dates that are important for the QuickBooks Payroll Basic, Standard, and Enhanced customers.
January 31
Below is the list of forms whose deadline is 31st January.
- January 31 is the due date to furnish W-2s with your employees. To meet the furnish requirements, you need properly address and send it before or on the due date.
- Last day for filing the 1099 form for non-employment compensation payments.
- It is the last to give away 1099 forms to the vendors. If you want to learn how to set up 1099 forms for independent contractors, follow the link.
- Last day for filing the 941 for Quarter 4 (Q4).
- Last day for filing the 943 and 944.
February 28
The last day for filing forms 1096 and 1099 (paper forms) with the IRS is 28th February.
NOTE: If you are filing the 1099 forms electronically then the due date for the payment is the 1st of April except for Box 1.
April 1
For filing the 1099 forms electronically with the IRS 1st of April is the last day. Remember that, if you have filed the paper form before then you don’t need to e-file again.
For QuickBooks Assisted Payroll Users
Quarter-End Deadlines and the important due dates
The Paychecks that are dated within the calendar quarter are included in the quarter wage information (disregarding the pay-period ending date).
The calendar quarters are the following:
- Quarter 1 (Q1): January 1 to March 31
- Quarter 2 (Q2): April 1 to June 30
- Quarter 3 (Q3): July 1 to September 30
- Quarter 4 (Q4): October 1 to December 31
Below, we have mentioned the Q1, Q2, Q3, and Q4 processing and debit dates.
27 March 2020 / 26 June 2020 / 28 September 2020 / 29 December 2020
Above mentioned are the last days to submit the payroll for each quarter without paying any extra charges. If you want to add more paychecks or make any adjustments to the employee payroll information after 5 P.M. (Pacific Time) then it will be accounted for a back-dated fee of $100 and can also lead to tax penalties, late tax deposits, or amended (modify) tax returns.
March 31, 2020 / June 30, 2020 / September 30, 2020 / December 31, 2020
The dates mentioned above are the last business banking day of each quarter respectively. If you have submitted your payroll from 27 March to 31 March until 5 PM pacific time then still it will appear on your quarterly payroll and tax filing. This applies to every calendar quarter. But remember that, you will be charged a backdating $100 fee if you submit your payroll after March 27. Therefore, it is recommended to submit your payroll two days before the last business banking day of each quarter to avoid any penalties.
May 5 / August 5 / November 5 / February 5
In the Payroll Tax Center, you can see the copies of the quarter state and federal tax forms Assisted Payroll files.
Year-end deadlines and the important dates
Any paycheck that is dated in any particular year, for a say in 2019 then it will be included in the 2019 year’s wage information, disregarding the pay-period ending date fact. Similarly, if the paycheck is dated in 2020 then it will be included in the 2020 year’s wage information.
Important Processing and Debit Dates
- December 27, 20XX: If you have created a Direct Deposit paycheck dated 31 December 2019 then you have to submit it before 27 December 2019 by 5 PM Pacific Time. The Direct Deposit will only post into the employee’s bank account in 2019 if it is submitted before 27 December 2019 or if it is sent after that then it will not be posted in the employee’s bank account. If the DD paycheck that is dated 31 December 2019 is submitted after 27 Dec 2019 at 5 PM Pacific Time then it will be posted in the bank account in January 2020.
- December 27, 20XX: This is the last date before 5 PM Pacific Time to submit payroll information without paying any extra charges. If you have submitted any paychecks or made adjustments to the employee’s payroll information after 27 Dec 5 PM Pacific Time then you will be charged a back-dating fee of $100 and also, you could be subjected to tax penalties, late tax deposit, modification in tax returns (additional charges will apply) and also W-2 forms corrections (additional charges will apply).
- December 27, 20XX: Employer that creates $100,000 in the federal payroll tax liabilities and if their payrolls are dated 31 December 2019 then they need to submit these payrolls before 27 Dec 2019, 5 PM Pacific Time. It is important to submit by this date to ensure that the tax payments are made on a timely basis on 2 Jan 2020. If for any reason, the employer is failed to submit $100K federal tax payroll tax liabilities before 27 Dec then they will be charged 10 percent penalties and interest will be charged as well.
- December 31, 20XX: 31st December is the last business banking day of the year. All the payroll data that is dated for 2019 should be received by 31 Dec 2019, 5 PM Pacific Time. The payroll data includes 2019 payroll and tax filings. If you have submitted any payroll information or made any changes to the employee payroll information and submitted it after 27 Dec 2019, 5 PM Pacific Time, then you will be changed for a back-dating fee of $100 and you may also be subjected to the tax penalties, late tax payments, modification in tax returns and W-2 forms (additional charges will apply).
W-2 Dates
- January 3: As soon as the payroll offloads the production of the W-2 Begins.
- January 10: In the Payroll Tax Centre, W-2 forms will be available.
- January 10: W-2 processing fees job runs, emails are sent.
- January 20: Employees will start mailing W-2 forms.
- January 31: Employees’ W-2 mailing will be completed.
FAQs
Q. What are the 4 tax-filing quarters throughout the year?
A. December, January, and February make up the first quarter. April, May, and June comprise the second quarter. August, September, and July make up the third quarter. November, December, and October make up the fourth quarter.
Q. What crucial tax deadlines and dates are there throughout the year?
A. Each year, the tax filing deadline is normally April 15; however, if that day comes on a weekend or a holiday, it may be postponed. Penalties and interest may apply if the tax deadline is missed. Form 4868 must be submitted by April 18, 2023, to request an extension.
Q. What is the tax rule for each quarter?
A. You must pay either 100% of your expected taxes for the current year or 90% of your total taxes from the prior year. Self-employment taxes are due if you make more than $75,000 as a single filer or $150,000 as a married couple filing jointly in self-employment income.
Q. What is the 2023 IRS tax filing deadline?
A. The IRS is giving California residents in certain places extra time to submit their taxes even though the deadline for other Americans to do so is Tuesday, April 18, 2023.
Q. What is the consequence of failing to pay quarterly taxes?
A. If you miss a deadline for making a quarterly tax payment, the IRS may impose a fine. For each month—or portion of a month—that the tax is not paid, there is a penalty equal to 0.5% of the amount owing. Your penalty amount depends on how much you owe and how long it takes you to pay it.
Final Words
These are all the tax deadlines and important quarterly & year-end dates that every QuickBooks Payroll customer needs to know so they don’t have to face any last-minute issues or roadblocks while filing the tax forms with the Federal tax agency or State tax agency.
We hope that you found this article useful and valuable. If you have any questions related to bookkeeping and accounting then you can have assistance from our team of Intuit-certified QuickBooks ProAdvisor. They have years of experience in the accounting field and can resolve any issue instantly. For more information call us at our 24/7 toll-free QuickBooks Support number +1-844-405-0904.