Tax Law and News July 2020 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 Intuit Accountants Team Modified Aug 5, 2020 2 min read We’re doing more this month than celebrating our nation’s birthday; due to COVID-19, several important tax deadlines were moved to July. Here’s your list of tax and compliance deadlines for July 2020. Key Compliance Dates: Wednesday, July 1 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on June 24-26. Monday, July 6 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on June 27-30. Wednesday, July 8 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 1-3 Friday, July 10: Tipped employees who received $20 or more in tips during June report them to their employer on Form 4070, Employee’s Report of Tips to Employer. Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 4-7. Wednesday, July 15: Individuals file 2019 returns (Form 1040); alternatively, file for an automatic extension to October 2020 (Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return). Calendar-year C corporations file 2019 returns on Form 1120, U.S. Corporation Income Tax Return; alternatively, file for an automatic extension. Individuals and calendar-year corporations pay 2020 estimated taxes for the first and second quarters of 2020. Monthly depositors deposit FICA and withheld income tax for June. Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 8-10. Friday, July 17 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 11-14. Wednesday, July 22 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 15-17. Friday, July 24 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 18-21. Wednesday, July 29 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 22-24. Friday, July 31: File Form 941, Employer’s Quarterly Federal Tax Return, for the second quarter of 2020 (if tax deposited in full and on time, file by Aug. 10). File 2019 Form 5500, Annual Return/Report of Employee Benefit Plan, or 5500-EZ, Annual Return of A One-Participant (Owners/Partners and Their Spouses) Retirement Plan or A Foreign Plan, for calendar-year retirement and benefit plans. Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 25-28. Deposit FUTA tax owed through June if more than $500. Intuit® Accountants Resources: Key tax facts for 2020 State tax deadlines As always, visit Intuit Accountants for more information and training resources. Previous Post Loan packages and small business relief due to coronavirus Next Post PPP Flexibility Act: Legislative update to the Paycheck Protection Program Written by Intuit Accountants Team The Intuit® Accountants team provides ProConnect™ Tax, Lacerte® Tax, ProSeries® Tax, and add-on software and services to enable workflow for its customers. Visit us at https://proconnect.intuit.com, or follow us on Twitter @IntuitAccts. More from Intuit Accountants Team 2 responses to “July 2020 tax and compliance deadlines” Hi: what are some of the weekly depositors and, how do you figure if it has to be deposited in three day spans, or, four day spans? thank you: Hi, this resource from the IRS may be helpful for you: https://www.irs.gov/businesses/small-businesses-self-employed/employment-tax-due-dates Browse Related Articles Tax Law and News July 2022 tax and compliance deadlines Tax Law and News July 2024 tax and compliance deadlines Tax Law and News July 2016 Tax and Compliance Deadlines Tax Law and News July 2021 tax and compliance deadlines Tax Law and News July 2019 Tax and Compliance Deadlines Tax Law and News July 2018 Tax and Compliance Deadlines Tax Law and News July 2023 tax and compliance deadlines Tax Law and News July 2017 Tax and Compliance Deadlines Tax Law and News June 2020 tax and compliance deadlines Tax Law and News August 2019 Tax and Compliance Deadlines
Hi: what are some of the weekly depositors and, how do you figure if it has to be deposited in three day spans, or, four day spans? thank you:
Hi, this resource from the IRS may be helpful for you: https://www.irs.gov/businesses/small-businesses-self-employed/employment-tax-due-dates