December 2023 Business Due Dates
December 1 - Employers
During December, ask employees whose withholding allowances will be different in 2024 to fill out a new Form W4 or Form W4(SP).
December 15 - Social Security, Medicare and Withheld Income Tax
If the monthly deposit rule applies, deposit the tax for payments in November.
December 15 - Nonpayroll Withholding
If the monthly deposit rule applies, deposit the tax for payments in November.
December 15 - Corporations
The fourth installment of estimated tax for 2023 calendar year corporations is due.
December 31 - Last Day to Pay Deductible Expenses for 2023
Last day to pay deductible expenses for the 2023 return (doesn’t apply to IRA, SEP or Keogh contributions, all of which can be made after December 31, 2023).
December 31 – Caution! Last Day of the Year
If your intended financial transactions can't be executed on December 31st or require more than a day to complete, it's advisable to initiate them well before that date. Since December 31st falls on a Sunday this year, and many financial institutions might also be closed on the preceding Friday, the 29th, and Saturday, the 30th, planning ahead is crucial.