Tax Law and News August 2023 tax and compliance deadlines Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Scott Cytron Modified Jul 11, 2023 2 min read 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. Previous Post How to deduct business expenses while on vacation Next Post Safe harbor deed language issued for SECURE 2.0 Act Written by Scott Cytron Scott H. Cytron, ABC, is editor of several Intuit blogs, including the Firm of the Future, the QuickBooks blog, and the Tax Pro Center. He is president of Cytron and Company, known for helping companies and organizations improve their bottom line through strategic public relations, communications, marketing programs and top-notch client service. An accredited consultant, Scott works with companies, organizations and individuals in professional services (medical, legal, accounting, engineering), high-tech and B2B/B2C product/service sales. More from Scott Cytron Comments are closed. Browse Related Articles Practice Management How market competitors have become firm predators Tax Law and News Accountant’s guide to secure file sharing Practice Management Consultant spotlight: Jason Tritle Practice Management Consultant spotlight: Corey Spear Practice Management Consultant spotlight: Drew Hickman Practice Management Top 7 advantages of choosing a firm niche Advisory Services Your firm: Maximizing value over volume Practice Management ProSeries® Tax spotlight: Nayo Carter-Gray, EA, MBA Practice Management Consultant Spotlight: Katherine Weiler Webinars Technology and Your Clients: Dec. 19