Tax Due Dates

2022 Tax Reporting Deadlines:

January 3 –

• For employers who deferred paying the employer share of social security tax in 2020, pay 50% of the deferred amount of the employer share

January 18 –

• Individual 4^thquarter estimated tax payments due for tax year 2021

January 31 –

• 2021 Forms W-2 should be issued to employees and to the Social Security Administration
• Mail or electronically file Copy A of Form(s) W-2 and Form W-3 with the Social Security Administration
• Prepare & furnish annual information statements to recipients of certain payments made during 2021. The most common examples include:
  • 1099-NEC, Nonemployee Compensation (generally, for amounts $600 or more)
  • 1099-MISC, Miscellaneous Income (threshold amounts varies, depending on type of income)
  • 1099-INT, Interest Income (generally, $10 or more)
  • 1099-DIV, Dividends and Distributions (generally, $10 or more
  • 1098, Mortgage Interest Statement (for amounts $600 or more)
• Forms 1099-NEC, Copy A, must be either mailed or electronically filed with the IRS by this date
• 4^th quarter 2021 payroll reports due including Forms 940, 941 and state reports

February 15 –

• 2021 Forms 1099-B, Proceeds from Broker and Barter Exchange, to be furnished to recipients
• 2021 Forms 1099-S, Proceeds from Real Estate Transactions, to be furnished to transferors
• 2021 Forms 1099-MISC (if amounts are only reported in box 8 or 10) to be furnished to recipients

February 28 –

• Last day to postmark if sending copies of Forms 1099 and/or Forms 1098, along with Form 1096, to the IRS by mail

March 15 –

• S Corporation and Partnership tax returns due that have a Dec 31 year end (Forms 1120S and 1065)

March 31 –

• Last day to file Forms 1098 and most Forms 1099 with the IRS, if filing electronically

April 18 –

• Individual tax returns due (Form 1040)
• Corporate tax returns due that have a Dec 31 year end (Form 1120)
• Individual and Corporate 1^st quarter estimated tax payments due for 2022

May 2 –

• 1^st quarter 2022 payroll quarterly reports due including Forms 941 and state reports
• South Carolina Business Personal Property tax returns (PT-100)
• Horry County Business License renewals due

May 16 –

• Calendar-Year Exempt Organization Returns due including Forms 990, 990-EZ, and 990-PF
• South Carolina Annual Report due for Calendar Year Exempt Organizations

June 1 –

• City of Myrtle Beach Business License renewals due
• City of Surfside Beach Business License renewals due

June 15 –

• Individual and Corporate 2^nd quarter estimated tax payments due for 2022

August 1 –

• 2^nd quarter 2022 payroll reports due including Forms 941 and state reports

September 15 –

• Individual and Corporate 3^rd quarter estimated tax payments due for 2022
• Extended S Corporation and Partnership tax returns due that have a December 31 year end (Forms 1120S & 1065)

October 17 –

• Extended Individual tax returns due (Form 1040)
• Extended Corporate tax returns due that have a Dec 31 year end (Form 1120)

October 31 –

• 3^rd quarter 2022 payroll reports due including Forms 941 and state reports

November 15 –

• Extended Calendar-Year Exempt Organization Returns due including Forms 990, 990-EZ, and 990-PF
• Extended South Carolina Annual Report due for Calendar Year Exempt Organizations

December 15 –

• Corporations only: Deposit the 4^th installment of estimated income tax for 2022.

As to payroll withholdings:

If you are a monthly depositor, your payment deposit is due by the 15^th day following each month.

If you are a semi-weekly depositor, your payment deposit is due on the Wednesday following your payroll date if your payroll day is on Wednesday, Thursday or Friday. Your payment deposit is due on the Friday following your payroll date if your payroll day is on a Saturday, Sunday, Monday or Tuesday.

Using the IRS EFTPS site, you should initiate the payment at least one day before the due date for it to be processed by the due date without penalty.

As to Sales tax reporting:

Generally, all South Carolina sales tax reporting is due by the 20^thof the month for the previous month’s sales.