Once you have employees or contractors, the IRS calendar gets busier. These are the dates that catch new employers off guard.
January 31: W-2s
Give Form W-2 to employees by January 31, and file W-2s with Form W-3 with the Social Security Administration for the prior year's wages.
January 31: 1099-NEC
If you paid contractors, Form 1099-NEC must be filed with the IRS and given to recipients by January 31.
Quarterly: Form 941
Form 941 is filed every quarter, with due dates of April 30, July 31, October 31 and January 31. If you deposited all the tax on time, you get 10 extra calendar days.
Yearly: Form 940
Form 940 reports federal unemployment (FUTA) tax for the prior year and is due January 31, with 10 extra days if all FUTA tax was deposited on time.
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