December 2024 Business Due Dates

December 2 - Employers

During December, ask employees whose withholding allowances will be different in 2025 to fill out a new Form W4 or Form W4(SP). 

December 16 - Social Security, Medicare and Withheld Income Tax


If the monthly deposit rule applies, deposit the tax for payments in November.

December 16 - Nonpayroll Withholding

If the monthly deposit rule applies, deposit the tax for payments in November.

December 16 - Corporations

The fourth installment of estimated tax for 2024 calendar year corporations is due.

December 31 - Last Day to Pay Deductible Expenses for 2024  

Last day to pay deductible expenses for the 2024 return (doesn’t apply to IRA, SEP or Keogh contributions, all of which can be made after December 31, 2024). 

December 31 - Last Day to File Beneficial Ownership Report for pre-2024 Reporting Companies

Last day to timely file the Beneficial Ownership Report with FinCEN for companies created before January 1, 2024. The new Beneficial Ownership Information Reporting Rule requires certain entities (corporations, limited liability companies, partnerships) to electronically file “beneficial ownership” information reports to the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) starting on January 1, 2024. Businesses created or registered to do business before Jan. 1, 2024 have until Jan. 1, 2025 to file their initial reports. Companies created or registered on or after Jan. 1, 2024 will have 30 days to file after their creation. Please contact this office if you need information about or assistance in complying with the reporting requirements. Substantial penalties apply for non-compliance.

December 31 - Caution! Last Day of the Year

If the actions you wish to take cannot be completed on the 31st or in a single day, you should consider taking action earlier than December 31st, as some financial institutions may be closed  that day.

Weekends & Holidays:

If a due date falls on a Saturday, Sunday or legal holiday, the due date is automatically extended until the next business day that is not itself a legal holiday. 

Disaster Area Extensions:

Please note that when a geographical area is designated as a disaster area, due dates will be extended. For more information whether an area has been designated a disaster area and the filing extension dates visit the following websites:

FEMA: https://www.fema.gov/disaster/declarations
IRS
: https://www.irs.gov/newsroom/tax-relief-in-disaster-situations  

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