November
,• During this month you should ask employees if they want to change their withholding allowances or tax status for the next tax year and provide the necessary W-4 forms for these changes.
• You should alert any employees who filed for tax exempt status in the current tax year that they need to file a new W-4 for the next tax year if they want to maintain that status.
• You should alert any employees who were eligible for earned income credit advances in the current tax year that they must file a new Form W-5 for the next tax year.
November 10—You should collect Form 4070, “Employee’s Report of Tips to Employer,” from any employee who received $20 or more in tips.
November 11—Veteran’s Day is a federal holiday. Banks and federal offices are closed, as well as many state offices and other businesses.
November 15:
• If you pay your Social Security, Medicare, and income taxes withheld on a monthly deposit, you should make that deposit by this date for the October payment.
• If you withhold nonpayroll taxes and you deposit these taxes monthly, you should deposit the October payment by this date.
Thanksgiving Day is a federal holiday that always falls on the fourth Thursday of the month. Banks and federal offices are closed, as well as many state offices and other businesses.
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