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Reminder: backup withholding payment deadlines are coming soon
Businesses or other payers required to take backup withholding funds from payments should make sure they have a few upcoming filing deadlines on their calendar.
Backup withholding can apply to most kinds of payments reported on Forms 1099 and W-2G. There are, however, situations when a payer must withhold 24% of the payment to ensure the IRS receives the tax due on this income. This is known as backup withholding. If a payer does backup withhold, they must deposit the withholding with the IRS. Taxpayers should review Publication 15, Employer’s Tax Guide, for more information on making deposits.
Due date for Form 945, Annual Return of Withheld Federal Income Tax
Due date for Form 1099-NEC, Nonemployee Compensation
Due dates for certain information returns
Taxpayers should review Publication 1220, Specifications for Electronic Filing of Forms 1097, 1098, 1099, 3921, 3922, 5498, and W-2G for help electronically filing information returns. Payers must also provide corresponding information returns to the payees by the due dates. Payers should review the “Guide to Information Returns” in the General Instructions for Certain Information Returns.
Payers must use the same employer identification number on all forms
Information return filing extensions
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