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Upcoming Tax Deadlines

May

Day
01 Employers – Federal unemployment tax. Deposit the tax owed through March if more than $500.
01 Employers – Social security, Medicare, and withheld income tax. File Form 941 for the first quarter of 2023. Deposit or pay any undeposited tax under the accuracy of deposits rule. If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for the quarter timely, properly, and in full, you have until May 10 to file the return.
10 Employees Who Work for Tips – If you received $20 or more in tips during April, you must report them to your employer (employees are required to keep a daily record of tips). All tips must be reported on your individual income tax return.. You can use Form 4070.
15 Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in April.
15 Employers – Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in April.

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June

Day
12 Employees Who Work for Tips – If you received $20 or more in tips during May, you must report them to your employer (employees are required to keep a daily record of tips). All tips must be reported on your individual income tax return.. You can use Form 4070.
15 Corporations – Deposit the second installment of estimated income tax for 2023.
15 Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in May.
15 Employers – Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in May.
15 Individuals – If you’re a U.S. citizen or resident alien living and working (or on military duty) outside the United States and Puerto Rico, file Form 1040 or Form 1040-SR and pay any tax, interest, and penalties due. Otherwise, see Individuals under April 18, earlier. If you want additional time to file your return, file Form 4868 to obtain 4 additional months to file and pay what you estimate you owe in tax to avoid penalties and interest. Then, file Form 1040 or Form 1040-SR by October 16. However, if you’re a participant in a combat zone, you may be able to further extend the filing deadline.
15 Individuals – Make a payment of your 2023 estimated tax if you’re not paying your income tax for the year through withholding (or won\’t pay in enough tax that way). Use Form 1040-ES. This is the second installment date for estimated tax in 2023.

You may be able to avoid having to pay estimated taxes by increasing your tax withholding. Penalties may be assessed if you do not pay enough tax through withholding and estimated tax payments or if your payments are late.

You may be able to avoid the “Underpayment of Estimated Tax by Individuals Penalty” by paying at least 90% of the tax shown on the return for the tax year, or by paying 100% of the tax shown for the prior year, whichever is less.

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July

Day
10 Employees Who Work for Tips – If you received $20 or more in tips during June, you must report them to your employer (employees are required to keep a daily record of tips). All tips must be reported on your individual income tax return.. You can use Form 4070.
17 Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in June.
17 Employers – Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in June.
31 Certain Small Employers – Deposit any undeposited tax if your tax liability is $2,500 or more for 2023 but less than $2,500 for the second quarter.
31 Employers – Federal unemployment tax. Deposit the tax owed through June if more than $500.
31 Employers – If you maintain an employee benefit plan, such as a pension, profit-sharing, or stock bonus plan, file Form 5500 or 5500-EZ for calendar year 2022. If you use a fiscal year as your plan year, file the form by the last day of the seventh month after the plan year ends.
31 Employers – Social security, Medicare, and withheld income tax. File Form 941 for the second quarter of 2023. Deposit or pay any undeposited tax under the accuracy of deposits rule. If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for the quarter timely, properly, and in full, you have until August 10 to file the return.

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