Tax Compliance and Due DatesAs summer winds down, it’s time to begin preparing for the fall. August is a good time to come up with ways to recruit new clients, as well as keep the ones you already have. Get up to speed on key compliance dates and what you need to tell your clients. As always, Intuit® Accountants is pleased to offer guidance and information to all tax practitioners.

In August, it is recommended that you:

  • Remind clients of September 15 estimated tax payment for individuals and calendar-year corporations.
  • Remind calendar-year corporations with returns on extension of September 15 filing deadline.
  • Alert clients who are parents of first-year college students of the American Opportunity tax credit.

Key Compliance Dates:

  • Wednesday, August 5 Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 29-31.
  • Friday, August 7 Semiweekly depositors deposit FICA and withheld income tax on wages paid on August 1-4.
  • Monday, August 10 Tipped employees who received or more in tips during July report them to the employer on Form 4070. File Form 941 for the second quarter of 2014 if tax deposited in full and on time.
  • Wednesday, August 12 Semiweekly depositors deposit FICA and withheld income tax on wages paid on August 5-7.
  • Friday, August 14 Semiweekly depositors deposit FICA and withheld income tax on wages paid on August 8-11.
  • Monday, August 17 Monthly depositors deposit FICA and withheld income tax for July.
  • Wednesday, August 19 Semiweekly depositors deposit FICA and withheld income tax on wages paid on August 12-14.
  • Friday, August 21 Semiweekly depositors deposit FICA and withheld income tax on wages paid on August 15-18.
  • Wednesday, August 26 Semiweekly depositors deposit FICA and withheld income tax on wages paid on August 19-21.
  • Friday, August 28 Semiweekly depositors deposit FICA and withheld income tax on wages paid on August 22-25.

Intuit Resources:

As always, visit Intuit Accountants for more information and training resources.

Share and Enjoy:FacebookTwitterLinkedInDiggdel.icio.usStumbleUponTechnoratiGoogle BookmarksRSSPrintPDFemail