July 2016 Tax and Compliance Deadlines

It’s July, so that means enjoying yourself and celebrating America’s birthday. July 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.

In July, it is recommended that you:

• Alert clients to 2016 mid-year tax planning opportunities.
• Schedule CPE for 2016 

Key Compliance Dates:

• Friday, July 1 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on June 25-28
• Thursday, July 7 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on June 29-July 1.
• Friday, July 8 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 2-5.
• Monday, July 11 – Tipped employees who received $20 or more in tips during June report them to the employer on Form 4070.
• Wednesday, July 13 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 6-8.
• Friday, July 15 – Monthly depositors deposit FICA and withheld income tax for June. Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 9-12.
• Wednesday, July 20 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 13-15.
• Friday, July 22 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 16-19.
• Wednesday, July 27 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 20-22.
• Friday, July 29 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 23-26.

Intuit Resources:

• The July 2016 Calendar with filing deadlines and reminders for you and your clients.
• Key Tax Facts for 2016

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