Can you believe the third quarter is already here? We’ve compiled a list of key tax-related deadlines that might affect your business and employees to give you a leg up as we head into Q3. Keep in mind that this list isn’t all-inclusive and there could be other deadlines that apply to you.
July 15
- Employers with monthly tax deposit rules must submit Social Security, Medicare, and withheld income taxes along with nonpayroll withheld income taxes for June.
July 31
- Report and pay second quarter taxes: Report income tax withholding and FICA taxes for employees paid in April, May, and June using Form 941. Be sure to pay any tax due by this date. (See the exception below, under “August 12.”)
- File or request an extension for retirement plan report (if applicable): File your 2023 calendar-year retirement plan report using Form 5500 or Form 5500-EZ or request an extension.
August 12
- Report income tax withholding and FICA taxes for second quarter 2024 using Form 941, if you deposited on time and in full all associated taxes due.
September 16
- Calendar-year C corporation be sure to pay the third installment of 2024 estimated income taxes.
- Calendar-year S corporation or partnership that filed an automatic six-month extension:
- File a 2023 income tax return with Form 1120-S, Form 1065 or Form 1065-B and pay any tax, interest and penalties due.
- Make contributions for 2023 to certain employer-sponsored retirement plans.
- Employers should deposit Social Security, Medicare and withheld income taxes for August if monthly deposit rules are applicable. Include non-payroll withheld income tax for August if subject to monthly deposits.
Contact your Smolin Advisor to ensure you’re meeting all applicable deadlines and filing requirements.