Latest Newsletter Edition

Upcoming Tax Deadlines

September

Day
10	Employees Who Work for Tips – If you received $20 or more in tips during August, report them to your employer. You can use Form 4070.
16	Nonpayroll withholding – If the monthly deposit rule applies, deposit the tax for payments made in August.
16	Social security, Medicare, and withheld income tax – If the monthly deposit rule applies, deposit the tax for payments made in August.
16	Corporations – Deposit the third installment of estimated income tax for 2024.
16	S Corporations – File a 2023 calendar year income tax return (Form 1120-S) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic 6-month extension of time to file the return. Otherwise, see S corporations under March 15, earlier. Provide each shareholder with a copy of their final or amended Schedule K-1 (Form 1120-S) or substitute Schedule K-1 (Form 1120-S) and, if applicable, Schedule K-3 (Form 1120-S) or substitute Schedule K-3 (Form 1120-S).
16	Partnerships – File a 2023 calendar year return (Form 1065). This due date applies only if you timely requested an automatic 6-month extension. Otherwise, see Partnerships under March 15, earlier. Provide each partner with a copy of their final or amended Schedule K-1 (Form 1065) or substitute Schedule K-1 (Form 1065) and, if applicable, Schedule K-3 (Form 1065) or substitute Schedule K-3 (Form 1065).
16	Individuals – Make a payment of your 2024 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 third installment date for estimated tax in 2024. For more information, see Pub. 505.

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October

Day
10	Employees Who Work for Tips – If you received $20 or more in tips during October, report them to your employer. You can use Form 4070.
15	Nonpayroll withholding – If the monthly deposit rule applies, deposit the tax for payments made in September.
15	Social security, Medicare, and withheld income tax – If the monthly deposit rule applies, deposit the tax for payments made in September.
15	Corporations – File a 2023 calendar year income tax return (Form 1120) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic 6-month extension. Otherwise, see Corporations under April 15, earlier.
15	Individuals – If you have an automatic 6-month extension to file your income tax return for 2023, file Form 1040 or Form 1040-SR and pay any tax, interest, and penalties due.
31	Federal unemployment (FUTA) tax – Deposit the tax owed through September if more than $500.
31	Certain small employers – Deposit any undeposited tax if your tax liability is $2,500 or more for 2024 but less than $2,500 for the third quarter.
31	Social security, Medicare, and withheld income tax – File Form 941 for the third quarter of 2024. 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 November 12 to file the return.

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November

Day
12	Social security, Medicare, and withheld income tax – File Form 941 for the third quarter of 2024. This due date applies only if you deposited the tax for the quarter timely, properly, and in full.
12	Employees Who Work for Tips – If you received $20 or more in tips during October, report them to your employer. You can use Form 4070.
15	Nonpayroll withholding – If the monthly deposit rule applies, deposit the tax for payments made in October.
15	Social security, Medicare, and withheld income tax – If the monthly deposit rule applies, deposit the tax for payments made in October.

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Posted on September 1, 2024

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Leigh McCormick, EA, CB
President