Tax Law and News

August 2017 Tax and Compliance Deadlines

Written by Dorinda DeScherer
Published Jul 31, 2017
2 min read

Ah, the dog days of summer! Whether you’re taking some well-deserved time off or spending your days catching up with clients, it’s always a good idea to pay attention to important tax and compliance deadlines in August. Here’s a list for your review.

In August, it is recommended that you:

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

Key Compliance Dates:

Wednesday, Aug. 2 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 26-28.

Friday, Aug. 4 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 29-Aug. 1.

Wednesday, Aug. 9 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Aug. 2-4.

Thursday, Aug. 10

Tipped employees who received $20 or more in tips during July report them to the employer on Form 4070, Employee’s Report of Tips to Employer.
File Form 941, Employer’s Quarterly Federal Tax Return, for the second quarter of 2017 if tax deposited in full and on time.

Friday, Aug. 11 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Aug. 5-8.

Tuesday, Aug. 15 – Monthly depositors deposit FICA and withheld income tax for July.

Wednesday, Aug. 16 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Aug. 9-11.

Friday, Aug. 18 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Aug. 12-15.

Wednesday, Aug. 23 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Aug. 16-18.

Friday, Aug. 25 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Aug. 19-22.

Wednesday, Aug. 30 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Aug. 23-25.

Intuit® ProConnect™ Resources:

The August 2017 Calendar with filing deadlines and reminders for you and your clients
Key Tax Facts for the 2016 Return and Key Tax Facts for 2017
New Tax Law Changes for 2016 and New Tax Developments for 2017 and Beyond

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

Dorinda DeScherer is an attorney specializing in tax and employment law. She is an honors' graduate of Barnard College of Columbia University and the University of Maryland School of Law. She is currently a principal with Editorial Resource Group, where she specializes in writing and editing professional publications. More from Dorinda DeScherer

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