July 2018 Tax and Compliance Deadlines

Happy birthday, America! As we celebrate with flags, cookouts and fireworks, let’s take a look at this month’s important tax and compliance deadlines.

In July, it is recommended that you:

• Alert clients to 2018 mid-year tax planning opportunities.
• Schedule Continuing Professional Education for 2018.

Key Compliance Dates:

Thursday, July 5 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on June 27-29.

Friday, July 6 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on June 30 – July 3.

Tuesday, July 10 – Tipped employees who received $20 or more in tips during June report them to the employer on Form 4070, Employee’s Daily Record of Tips and Report to Employer.

Wednesday, July 11 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 4-6.

Friday, July 13 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 7-10.

Monday, July 16 – Monthly depositors deposit FICA and withheld income tax for June.

Wednesday, July 18 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 11-13.

Friday, July 20 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 14-17.

Wednesday, July 25 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 18-20.

Friday, July 27 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 21-24.

Tuesday, July 31:

• Deposit FUTA tax owed through June if more than $500.
• File Form 941, Employee’s Quarterly Federal Tax Return, for the second quarter of 2018 (if tax deposited in full and on time, file by Aug. 10).
• File 2017 Form 5500, Annual Return/Report of Employee Benefit Plan, or 5500-EZ, Annual Return of One-Participant (Owner and Their Spouses) Retirement Plan, for calendar-year retirement and benefit plans.

Intuit® ProConnect™ Resources:

• The July 2018 Calendar with filing deadlines and reminders for you and your clients
• Key Tax Facts for 2017 and Key Tax Facts for 2018
• New Tax Developments for 2017 and Beyond and 5 Key Tax Changes for Your Clients in 2018

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