HELPFUL INFORMATION

This is general information for taxpayers and should not be relied upon as the only source of authority.  Taxpayers should seek professional tax advice for more information.

Tax information to keep you updated. 

General Information*


Payroll rates and bases            2020                          2021
Employee SS and Medicare           6.20%/1.45%*               6.20%/1.45%*
Employer SS and Medicare            6.20%/1.45%                 6.20%/1.45%
Social Security wage limit                  $137,700                        $142,800
Medicare wage limit*                         Unlimited                       Unlimited
FUTA-taxable wage base                     $7,000                             $7,000
FUTA rate                                                 6.0%                                6.0%
FUTA maximum credit                            5.4%                                5.4%
Min. FUTA deposit rate                           0.6%                                0.6%
    (most firms)


* Withhold added Medicare tax of .9% on wages over $200,000.




Standard mileage rates             2020                         2021
Business*                                             57.5¢/mi.                       56¢/mi.
Relocation**                                          17¢/mi.                        16¢/mi. 
Medical                                                   17¢/mi.                        16¢/mi.
Charitable rate                                       14¢/mi.                        14¢/mi.


* For owned/leased passenger autos, vans, pickups or panel trucks and up to 4 taxis used for hire on which no §179 or depreciation was 

     taken.
** Starting in 2018, all relocation payments are taxable to the employee and tax deductible for the employer.




Qualified retirement plan limits                                                 2020                                  2021
Pretax contributions for 401(k) and SEP plans and 403(b) annuities                          $19,500                                         $19,500
     Workers aged 50 or over (catch-up)                                                                            $6,500                                           $6,500 

Sec. 415(b)(1)(A) defined benefit plan annual benefit ceiling                                      $230,000                                       $230,000
Combined employer/employee pay-in limits for all defined contrib. plans                 $57,000                                         $58,000
Annual compensation limit under Sec. 401(a)(17) and Sec. 404(1)                            $285,000                                       $290,000
Sec. 408(k)(3)(C) IRA, SEP or SIMPLE plan limits                                                            $285,000                                       $290,000
SIMPLE pretax contribution limit                                                                                      $13,500                                         $13,500
     Workers aged 50 or over (catch-up)                                                                             $3,000                                           $3,000



* Disclaimer - General Information provided with permission from the American Institute of Professional Bookkeepers (AIPB).


                                                                                 Tax Calendar


July

Thursday, 07/01/2021
File Form 11-C to register and pay annual tax if you are in the business of taking wagers.
Friday, 07/02/2021
Deposit payroll tax for payments on Jun 26-29 if the semiweekly deposit rule applies.
Thursday, 07/08/2021
Deposit payroll tax for payments on Jun 30 - Jul 2 if the semiweekly deposit rule applies.
Friday, 07/09/2021
Deposit payroll tax for payments on Jul 3-6 if the semiweekly deposit rule applies.
Monday, 07/12/2021
Employers: Employees are required to report to you tips of $20 or more earned during June.
Wednesday, 07/14/2021
Deposit payroll tax for payments on Jul 7-9 if the semiweekly deposit rule applies.
Thursday, 07/15/2021
Deposit payroll tax for June if the monthly deposit rule applies.
Friday, 07/16/2021
Deposit payroll tax for payments on Jul 10-13 if the semiweekly deposit rule applies.
Wednesday, 07/21/2021
Deposit payroll tax for payments on Jul 14-16 if the semiweekly deposit rule applies.
Friday, 07/23/2021
Deposit payroll tax for payments on Jul 17-20 if the semiweekly deposit rule applies.
Wednesday, 07/28/2021
Deposit payroll tax for payments on Jul 21-23 if the semiweekly deposit rule applies.
Friday, 07/30/2021
Deposit payroll tax for payments on Jul 24-27 if the semiweekly deposit rule applies.

​​

August

Monday, 08/02/2021
File Form 720 for the second quarter.
File Form 941 for the second quarter.
Deposit FUTA owed through June if more than $500.
File Form 2290 and pay the tax for vehicles first used during June.
File Form 730 and pay the tax on wagers accepted during June.
File Form 5500, 5500-EZ, 5500-SF, 5558, or 8955-SSA for calendar year 2020 employee benefit plan
Wednesday, 08/04/2021
Deposit payroll tax for payments on Jul 28-30 if the semiweekly deposit rule applies.
Friday, 08/06/2021
Deposit payroll tax for payments on Jul 31 - Aug 3 if the semiweekly deposit rule applies.
Tuesday, 08/10/2021
Employers: Employees are required to report to you tips of $20 or more earned during July.
File Form 941 for the second quarter if you timely deposited all required payments.
Wednesday, 08/11/2021
Deposit payroll tax for payments on Aug 4-6 if the semiweekly deposit rule applies.
Friday, 08/13/2021
Deposit payroll tax for payments on Aug 7-10 if the semiweekly deposit rule applies.
Monday, 08/16/2021
File Form 8038, 8038-B, 8038-G, 8038-TC for bonds issued in Apr/May/Jun 2021
Deposit payroll tax for July if the monthly deposit rule applies.
Wednesday, 08/18/2021
Deposit payroll tax for payments on Aug 11-13 if the semiweekly deposit rule applies.
Friday, 08/20/2021
Deposit payroll tax for payments on Aug 14-17 if the semiweekly deposit rule applies.
Wednesday, 08/25/2021
Deposit payroll tax for payments on Aug 18-20 if the semiweekly deposit rule applies.
Friday, 08/27/2021
Deposit payroll tax for payments on Aug 21-24 if the semiweekly deposit rule applies.
Tuesday, 08/31/2021
File Form 2290 and pay the tax for vehicles first used during July.
File Form 730 and pay tax on wagers accepted during July.


September

Wednesday, 09/01/2021
Deposit payroll tax for payments on Aug 25-27 if the semiweekly deposit rule applies.
Friday, 09/03/2021
Deposit payroll tax for payments on Aug 28-31 if the semiweekly deposit rule applies.
Thursday, 09/09/2021
Deposit payroll tax for payments on Sep 1-3 if the semiweekly deposit rule applies.
Friday, 09/10/2021
Employers: Employees are required to report to you tips of $20 or more earned during August.
Deposit payroll tax for payments on Sep 4-7 if the semiweekly deposit rule applies.
Wednesday, 09/15/2021
Withholding Agent: File calendar year Form 1042 if you timely requested a 6-month extension.
Deposit payroll tax for payments on Sep 8-10 if the semiweekly deposit rule applies.
Tax Exempt Orgs: Deposit Estimated Tax for 3rd quarter due on Unrelated Business Taxable Income for Tax-Exempt Organizations. Use Form

     990-W to determine the amount of estimated tax payments required.
Corporations: File calendar year Form 1120S if you timely requested a 6-month extension.
Individuals: Pay the third installment of your 2021 estimated tax - Use Form 1040-ES.
Partnerships: File calendar year Form 8804 and Forms 8805 if you timely requested a 6-month extension.
Partnerships: File Form 8813 quarterly payment voucher and pay any tax due.
Partnerships: File calendar year Form 1065 if you timely requested a 6-month extension.
Corporations: Deposit the third installment of your 2021 estimated tax.
Partnerships: File Form 1065 if you timely requested a 6-month extension.
Deposit payroll tax for Aug if the monthly deposit rule applies.
Friday, 09/17/2021
Deposit payroll tax for payments on Sep 11-14 if the semiweekly deposit rule applies.
Wednesday, 09/22/2021
Deposit payroll tax for payments on Sep 15-17 if the semiweekly deposit rule applies.
Friday, 09/24/2021
Deposit payroll tax for payments on Sep 18-21 if the semiweekly deposit rule applies.
Wednesday, 09/29/2021
Deposit payroll tax for payments on Sep 22-24 if the semiweekly deposit rule applies.
Thursday, 09/30/2021
File Form 2290 and pay the tax for vehicles first used during August.
File Form 730 and pay tax on wagers accepted during August.



EFTPS users: Payments must be scheduled by 8 PM ET at least one calendar day before the tax due date.