November 2023: The Small Business Owner’s HR, Benefits, Payroll, and Tax Compliance Deadlines

Paige Smith

Between planning holiday campaigns and adjusting end-of-year revenue targets, there’s a lot to do in November. But don’t forget to stay on top of your compliance deadlines. Keep reading to find out which tax, payroll, and HR deadlines you need to mark this month.

Federal holidays

November 11, 2023

Veterans Day

Veterans Day, which honors military veterans in the US, is always celebrated on November 11. However, this year November 11 is a Saturday, which means some businesses and government operations may also observe Veterans Day on Friday, November 10. 

November 23, 2023

Thanksgiving Day

Thanksgiving always falls on the third Thursday in November, which is November 23 this year. Most businesses will be closed, so make sure to plan ahead—and enjoy the time off!

Tax and payroll compliance deadlines

Payroll tax deposits (for semi-weekly depositors)

The Internal Revenue Service (IRS) requires employers who file Forms 940 and 941 to deposit payroll taxes at different frequencies throughout the year. 

If you report more than $50,000 in payroll taxes during the lookback period of July 1, 2021 to June 30, 2022, you’re considered a semi-weekly depositor and must follow the schedule below:

If payday for your employees is on…Deposit employment taxes by…
WednesdayThe following Wednesday
ThursdayThe following Wednesday
FridayThe following Wednesday
SaturdayThe following Friday
SundayThe following Friday
MondayThe following Friday
TuesdayThe following Friday

However, if you accumulate $100,000 or more of tax liability in a single day, the IRS says you must deposit the amount by the following business day, regardless of whether you normally deposit on a semi-weekly or monthly basis (more on monthly deposits below).

To learn more about federal payroll tax deposits, read Publication 15

Keep in mind that some state and local governments that collect payroll taxes will also expect their own deposits and those deadlines may be different from the federal ones. For more information, contact your state and local tax agencies directly. 

November 13, 2023

Employee tip reporting deadline for October 

Your employees are required to report to you any tips of $20 or more that they earned during the month of October 2023. You can learn more about tip withholding and reporting requirements here

Form 941 extended filing deadline for people who made timely deposits 

If you have at least one employee, you have to file Form 941 to report any income taxes, Social Security taxes, or Medicare taxes withheld from your staff’s paychecks—and pay their share of payroll taxes every quarter. 

The third Form 941 for 2023 and the accompanying payroll tax payment were due on October 31. However, if you made the full deposit for the quarter on time, you automatically get additional time (10 days) to file the form. That means Form 941 is due November 13 if you made the full quarterly deposit on time. You can e-file through the EFTPS.

November 15, 2023

Payroll tax deposits for monthly depositors

If your company follows the monthly payroll tax deposit schedule (meaning that you reported less than $50,000 in payroll taxes during the lookback period), then your tax deposit for October payrolls is due on November 15. 

Form 8038 filing deadline for tax-exempt private activity bonds

If your business issues tax-exempt private activity bonds, you have to file Form 8038 for bonds issued in the third quarter (July, August, and September) of 2023 by November 15. Per the IRS, you have to file Form 8038 by the 15th day of the second calendar month after the close of the calendar quarter in which the bond was issued. Forms 8038-B, 8038-G, and 8038-TC are also due at this time. 

Make sure you file a separate form for each issue of the following tax-exempt private activity bonds issued after 1986:

  • Exempt facility bonds
  • Qualified mortgage bonds
  • Qualified veterans’ mortgage bonds
  • Qualified small issue bonds
  • Qualified student loan bonds
  • Qualified redevelopment bonds
  • Qualified hospital bonds
  • Qualified 501(c)(3) bonds
  • Nongovernmental output property bonds
  • All other tax-exempt private activity bonds

Send your forms to the following address:

Department of the Treasury
Internal Revenue Service Center
Ogden, UT 84201

Extended filing deadline for nonprofit tax returns 

If you run a nonprofit organization, you’re required to submit an annual tax return to the IRS. This form reports your organization’s activities and finances for the year and is available to the public to view. If you requested an extension for Form 990, your forms are due November 15. 

For more information on how to fill out Form 990, along with 990-EZ, 990-PF, 990-N, 990-BL, 990-T 4720, and 8868, review the official instructions on the IRS website. 

November 30, 2023

Form 730 filing deadline for wagers in October 

You have to file Form 730, the monthly tax return for wagers, if you meet the following criteria and accepted wagers during October 2023:

  • are in the business of accepting wagers
  • conduct a wagering pool or lottery
  • are required to be registered and received wagers for or on behalf of another person, but did not report that person’s name and address

Learn more about Form 730 here.

Form 2290 filing deadline for vehicles first used in October

If you’ve registered a heavy highway motor vehicle (with a taxable gross weight of 55,000 pounds or more) that was first used in October 2023, you have to file Form 2290 by November 30.

Per the IRS, you must file the form by the last day of the month following the month in which you first used the vehicle on a public highway.

To learn more about Form 2290, review the IRS’ instructions and information.

HR compliance deadlines

November 1, 2023

Marketplace health insurance enrollment begins for the 2024 plan year

Open enrollment for 2024 Marketplace health insurance plans begins on November 1 and runs until January 15, 2024 in most states. During this time, individuals can log onto and apply for a new healthcare plan

Remind employees to submit FSA receipts before the end of the calendar year

If you offer flexible spending accounts (FSAs) to your employees, this is a good time to remind your employees to submit their FSA receipts before the end of the year.

November 14, 2023

Deadline to furnish Q3 benefit statements to plan participants

If your business offers participant-directed retirement plans to your employees, you have to deliver benefit statements to plan participants on a quarterly basis (at minimum). These documents are due within 45 days of the end of the previous quarter.

That means the third quarterly benefits statement, as well as a statement of plan fees and expenses charged to the participant’s plan account during the quarter, is due to participants by November 14. 

November 15, 2023

Summary annual reports due to plan participants from companies with a tax filing extension

If you have a defined benefit plan, you’re required to submit summary annual reports (SARs) to plan participants each year, so your employees understand their retirement plan options. 

You need to distribute these documents within nine months of the end of the plan year. However, if you received an extension on your Form 5500, you have until November 15 to furnish SARs to plan participants.

Paige Smith Paige is a content marketing writer specializing in business, finance, and tech. She regularly writes for a number of B2B industry leaders, including fintech companies and small business lenders. See more of her work here:
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