Key HR dates and tax deadlines for January

Executive overview

January carries several HR compliance deadlines that cannot be missed. The month closes with the most critical: W-2s, 1099s, and multiple IRS tax forms all due January 31st.

Missing January 31st filing deadlines risks penalties for both employees and the business.

January dates at a glance

1. January 1 — New Year's Day; falls on a Monday in 2024, so most orgs give the day off
2. January 15 — Martin Luther King Jr. Day (federal holiday; observed third Monday per the Uniform Monday Holiday Act of 1968)
3. January 28 — Data Privacy Day; international awareness event, not a federal holiday
4. January 31 — Deadline for W-2, 1099, Form 720, Form 941, and Form 940 (if FUTA not paid quarterly)

January 31st filing deadlines explained

• Form W-2 — reports employee compensation and withheld federal, state, Social Security, and Medicare taxes; due both paper and e-file
• Form 1099 — reports non-employment income (interest, dividends, freelance pay over $600); multiple subtypes (INT, DIV, NEC, MISC)
• Form 720 — quarterly excise tax return for businesses selling goods/services subject to federal excise tax (alcohol, tobacco, firearms, gasoline, etc.); January 31st covers Q4 of prior year
• Form 941 — quarterly federal tax return for employers; reports income, Social Security, and Medicare taxes withheld from employees; January 31st covers Q4
• Form 940 — annual FUTA return; due January 31st only if quarterly FUTA taxes were not paid on time during the year