September might be the last month of Q3, but it’s already full steam ahead toward the holiday months, a super busy time for most small businesses. Make sure you’re on top of your compliance this month—so you can stay focused on what matters.
Federal holidays
September 2, 2024
Labor Day
Monday, September 2, is Labor Day, which means most businesses will take the day off. Enjoy the last long weekend of the summer season!
September 11, 2024
National Day of Service and Remembrance
The National Day of Service and Remembrance—also known as Patriot Day—is an opportunity to honor the people who died on September 11, 2001. Though the day isn’t technically a federal holiday, many individuals and businesses take time off to volunteer, participate in community events, or attend memorials.
Tax and payroll compliance deadlines
Payroll tax deposits (for semi-weekly depositors)
As an employer, you have to file Forms 940 and 941 to deposit payroll taxes at different intervals during the year.
If you report more than $50,000 in payroll taxes during the lookback period of July 1, 2022, to June 30, 2023, you’re considered a semi-weekly depositor, which means you have to follow the schedule below:
| If payday for your employees is on… | Deposit employment taxes by… |
| Wednesday | The following Wednesday |
| Thursday | The following Wednesday |
| Friday | The following Wednesday |
| Saturday | The following Friday |
| Sunday | The following Friday |
| Monday | The following Friday |
| Tuesday | The following Friday |
However, if you accumulate $100,000 or more of tax liability in a single day, the IRS requires you to 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.
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.
September 3, 2024
Form 2290 filing deadline for vehicles first used in July
If you first used your registered heavy highway motor vehicle (with a taxable gross weight of 55,000 pounds or more) in July 2024, you have to file Form 2290 by September 3.
The form is always due on the last day of the month following the month the vehicle was first used, but because August 31 fell on a weekend this year, the deadline was moved to September 3.
To learn more about Form 2290, review the IRS’ instructions and information.
Form 730 filing deadline for July wagers
You have to file Form 730 if you accepted wagers during July and meet the below criteria:
- 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
You also have to pay taxes on these wagers. Learn more about Form 730 here.
September 10, 2024
Employee tip reporting deadline for August
If your employees earn tips, they must report them to you once a month. If they received tips of $20 or more during August, their reporting deadline is September 10.
You can learn more about tip withholding and reporting requirements here.
Form 941 extended filing deadline for people who made timely deposits
The second Form 941 for 2024 and the accompanying payroll tax payment were due on July 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 August 12 if you made the full quarterly deposit on time. You can e-file through the EFTPS.
September 16, 2024
Payroll tax deposits for monthly depositors
If you’re on the monthly payroll tax deposit schedule (meaning that you reported less than $50,000 in payroll taxes during the lookback period), your tax deposit for August Social Security, Medicare, and withheld income tax is due on September 16.
Estimated tax payment for Q3 due
If you make quarterly estimated tax payments, your third payment of the year is due September 16. You have to make quarterly estimated tax payments if you fall into one of the following categories:
- C corporations
- S corporation shareholders
- Partners
- Sole proprietors
- Independent contractors
- Freelancers
- Gig workers
You can pay online, over the phone, or via mail using Form 1040-ES. For more information on estimated taxes, review Publication 505.
Form 8813 quarterly payment voucher due for partnerships
If you’re a partnership, you need to file Form 8813 by September 16 and pay any tax due. You can file the form at this address:
Internal Revenue Service Center
P.O. Box 409101
Ogden, UT 84409
For more information on Form 8813, see the IRS instructions here.
Form 1120-S extended filing deadlines for S-corps
If you own an S corporation (or if your LLC is taxed as an S corp), you have to use Form 1120-S to report your income, losses, and dividends as a shareholder of the company. This form was due March 15.
However, if you filed Form 7004 in March to request an automatic six-month extension, your deadline is now September 16.
Form 1065 extended filing deadlines for partnerships
If you own a partnership (or an LLC set up as a partnership), you have to use Form 1065 to report the gains, losses, deductions, and credits of your operation. Keep in mind that each partner is responsible for paying their share of income from the business on their personal tax returns (Form 1040).
If you filed Form 7004 in March to request an automatic six-month extension, your deadline to file this form is now September 16.
Estimated tax payment due for Q3 for tax-exempt organizations
When you own a tax-exempt organization like a nonprofit, you need to pay estimated tax on unrelated business income by September 16. Keep in mind that this is only if you expect your tax liability to be more than $500.
You can use Form 990-W to calculate the amount of estimated tax required.
Form 1042 extended filing deadline
If you withhold taxes for international employees, you’re required to submit Form 1042 on an annual basis to report those withholdings. If you requested a six-month filing extension, the form is due September 16.
Learn more about Form 1042 from the IRS here.
September 30, 2024
End of Q3 for companies following the calendar year
If you operate on a calendar year, the third quarter ends at the end of the month on September 30.
Form 2290 filing deadline for vehicles first used in August
If August was the first time you used your registered heavy highway motor vehicle, you have to file Form 2290 by September 30.
Form 730 filing deadline for August wagers
If you accepted wagers during August and meet the below criteria, you have to file Form 730 by September 30. The criteria apply if you:
- 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
And don’t forget to pay taxes on your August wagers.
HR compliance deadlines
September 15, 2024
Deadline to make retirement plan employer contributions for partnerships and S corporations
If you run a partnership or S corporation that filed an extension for your 2023 tax returns, the deadline to make any tax-deductible retirement plan employer contributions is September 15, the same day as the extended filing deadline.
Because September 15 falls on a Sunday this year, err on the side of caution and try to submit your contributions earlier.
Minimum funding contributions due for defined benefit plans
If your business has a defined benefit, money purchase, or target benefit plan that follows the calendar year, you must meet your minimum funding requirement for the 2023 plan year by September 15 to avoid excise taxes or operational failures.
That’s because plan sponsors are required to make any minimum contributions eight and a half months after the end of the plan year in question. Try to submit all electronic payments and mail all paper checks by before September 15—which falls on a weekend—to ensure your contributions are collected in a timely manner.
September 16, 2024
Form 5500 due for certain plans
If your business offers pension or welfare benefit plans covered by The Employee Retirement Income Security Act of 1974 (ERISA), you’re required to file Form 5500 with the Employee Benefits Security Administration (EBSA). This form reports information about these plans, including its qualification, financial condition, operation, and investments.
Although Form 5500 is typically due on July 31, plan sponsors who qualify for an automatic corporate tax extension have until September 16.
September 30, 2024
Deadline to furnish Summary Annual Report for calendar-year plans
A Summary Annual Report (SAR) is a summary of the information you submit in your Form 5500, including the total value of your company’s benefit plan during the previous plan year and other details.
If you operate on a calendar year, your deadline to give the SAR to your employees is September 29 (within nine months of the end of the plan year).
If you’ve successfully filed for an extension with Form 5558, your deadline for furnishing SARs to your employees will be December 15.
Remind employees to use their PTO and health benefits
Since Q4 is almost here, it’s a good opportunity to remind your employees to take advantage of their benefits, whether those include “use it or lose it” vacation days or flexible spending accounts.
