Two deadlines for reporting backup withholding are coming up. A recent IRS Tax Tip reminds businesses and other payers of the deadlines if they withheld taxes from certain payments made in 2021. Businesses are required to deduct backup withholding on certain nonwage payments, including commissions and nonemployee compensation, made to payees that filed information returns with missing or incorrect taxpayer identification numbers. Backup withholding of 24% is reported on Form 945. For 2021, the deadline to file Form 945 is Jan. 31, 2022. However, if a payer made all federal deposits on time and in full, the deadline is Feb. 10, 2022. Click here to learn more. For questions, contact the Cg Team. © 2022