STPS

Payroll 101: Important Dates in 2023

As all payroll companies know, starting a new year means you need to be mindful of the new set of key dates. Some of these dates are deadlines for tax deposits, information filing, and banking holidays. Knowing these will help you avoid getting any critical & costly penalties. Keep this set of 2023 dates handy for less headaches.

Banking Holiday Dates:

Monday, January 16, 2023 – Martin Luther King Jr. (Banking Holiday)

Monday, February 20, 2023 – President’s Day (Banking Holiday)

Monday, May 29, 2023 – Memorial Day (Banking Holiday)

Monday, June 20, 2023 – Juneteenth observed (Banking Holiday)

Tuesday, July 4, 2023 – Independence Day (Banking Holiday)

Monday, September 4, 2023 – Labor Day (Banking Holiday)

Monday, October 9, 2023 – Columbus Day (Banking Holiday)

Friday, November 9, 2023 – Veterans Day (Banking Holiday)

Thursday, November 23, 2023 – Thanksgiving (Banking Holiday)

Monday, December 25, 2023 – Christmas (Banking Holiday)

Deadline Dates:

Tuesday, January 31, 2023 – Last day to distribute W-2 forms to employees. If employee forms are distributed electronically, make sure forms are accessible no later than this date. 

Tuesday, January 31, 2023 – Deadline to provide employee copies of forms 1095-B or 1095-C. 

Tuesday, January 31, 2023 – This is also the last day to mail or electronically submit forms W-2 and W-3 to the SSA, and for 1099- NEC with the IRS. 

Tuesday, January 31, 2023 – Deadline to file form 941 for the 4th quarter of 2022.

Wednesday, February 15, 2023 – Employees who claimed exemption from federal income tax withholding in 2022 and wish to continue with exempt federal withholding status in 2023 must submit a new W-4 form.

Tuesday, February 28, 2023 – Deadline for paper filing of forms 1094-C and 1095-C to IRS.

Wednesday, March 15, 2023 – Corporate business income tax returns. (Extensions last 6 months).

Friday, March 31, 2023 – Deadline for electronic filing of forms 1099, 1094-C, and 1095-C to IRS.

Tuesday, April 18, 2023 – Tax Day for personal returns without extension. (Extensions last 6 months).

Monday, May 1, 2023 – Deadline to file form 941 for the 1st quarter of 2023. 

Monday, July 31, 2023 – Deadline to file form 941 for the 2nd quarter of 2023.

Monday, October 2, 2023 – Deadline to file form 941 for the 3rd quarter of 2023.

Bottom Line:

Make sure you keep these dates on your radar so you can avoid any surprising costly penalties. Some of these dates change every year so it is good to keep this list around to make sure your information is up to date.

Written by Tessa Braybrook

Tessa joined Superior Trucking Payroll Service in September 2022. She loves to write and make videos which made her a great asset to the team in her marketing position. 

Before working at Superior Trucking Payroll Service she worked in IT at GVSU which gave her the skills to problem-solve with customers over the phone. 

Contact Us!