March 2021 tax and compliance deadlines

Welcome to your March 2021 list of tax and compliance deadlines. While you’re continuing to work diligently through tax season, don’t forget about these important deadlines in March.

In March, it’s recommended that you:

• File extensions for individuals who have not met their deadline for return preparation.
• Remind individual clients of their April 15 estimated tax payment.
• File extensions for S corporations or partnerships that will not meet the March 15 filing deadline.

Key Compliance Dates:

Monday, March 1:

• Large food and beverage establishment employers file Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips; use Form 8027-T if reporting for more than one establishment. E-filers, see March 31 below.
• File information returns (other than returns for nonemployee compensation) with the IRS for payments made in 2020. Returns for nonemployee compensation were required to be filed by Jan. 31. E-filers have until March 31.

Wednesday, March 3 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 24-26.

Friday, March 5 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 27-March 2.

Wednesday, March 10:

• Tipped employees who received $20 or more in tips during February report them to the employer on Form 4070, Employee’s Report of Tips to Employer.
• Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 3-5.

Friday, March 12 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 6-9.

Monday, March 15:

• Monthly depositors deposit FICA and withheld income tax for February.
• Calendar-year S corporations file 2020 income tax return on Form 1120S, U.S. Income Tax Return for an S Corporation; alternatively, file for an automatic six-month extension.
• Calendar-year partnerships file 2020 information return (Form 1065, U.S. Return of Partnership Income); alternatively, file for an automatic six-month extension (Form 7004, Application for an Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns).

Wednesday, March 17 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 10-12.

Friday, March 19 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 13-16.

Wednesday, March 24 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 17-19.

Friday, March 26 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 20-23.

Tuesday, March 31:

• File information returns (other than returns for nonemployee compensation) if filing electronically.
• Large food and beverage establishments file Form 8027 if filing electronically.
• Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 24-26.

Intuit Accountants Resources:

• The March 2021 calendar with filing deadlines and reminders for you and your clients.
• Key tax facts for 2020
• State tax deadlines

As always, visit Intuit Accountants for more information and training resources.