August 2023 tax and compliance deadlines

On vacation and working remotely, or are you in your office on a reduced schedule for the summer? Either way, take a look at important tax and compliance deadlines for August 2023. Be sure to share this list with your clients.

In August, it is recommended that you:

• Remind clients of their September 15 estimated tax payment for individuals and calendar-year corporations.
• Remind calendar-year S corporations and partnerships with returns on extension of the September 15 filing deadline.
• Follow up with clients to see if second quarter income tax estimates have been paid.

Tax compliance deadlines:

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.
• File Form 941, Employers Quarterly Federal Tax Return, for the second quarter of 2023 if you deposited the tax for the quarter timely, properly, and in full.

Thursday, Aug. 10—Tipped employees who received $20 or more in tips during July report them to the employer on Form 4070.

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.
• Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in 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 Accountants Resources

• The August 2023 calendar with filing deadlines and reminders for you and your clients.
• Tax law changes for tax year 2023.
• IRS annual inflation adjustments for tax years 2021 and 2022.
• Key Tax Facts for 2022 and Key Tax Facts for 2023-24.