May 2022 tax and compliance deadlines

Congratulations! You did it! Now that you’ve made it past busy season, it’s time to take some time to reflect on your successes—and plan for the future. While you’re doing that, don’t forget about some important tax and compliance deadlines for May 2022.

In May, it’s recommended that you:

• Conduct a post-season review.
• Evaluate your tax software.
• Remind individual clients of the June 15 estimated tax payment.
• Alert clients who need to file amended returns.

Key Compliance Dates:

Monday, May 2:

• Employers file Form 941, Employer’s Federal Quarterly Return, for the first quarter of 2022 (if tax for the quarter was deposited in full and on time, file by May 10).
• Employers deposit federal unemployment tax owed through March if it was more than $500.

Wednesday, May 4—Semiweekly depositors deposit FICA and withheld income tax on wages paid on April 27–29.

Friday, May 6—Semiweekly depositors deposit FICA and withheld income tax on wages paid on April 30–May 2.

Tuesday, May 10:

• Tipped employees who received $20 or more in tips during April report them to the\r employer on Form 4070, Employee’s Report of Tips to Employer.
• Employers file Form 941 for the first quarter of 2022 if tax for the quarter was deposited in full and on time.

Wednesday, May 11—Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 3–5.

Friday, May 13—Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 6–8.

Monday, May 16—Monthly depositors deposit FICA and withheld income tax for April.

Wednesday, May 18—Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 9–11.

Friday, May 20—Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 12–14.

Wednesday, May 25—Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 15–17.

Friday, May 27—Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 18–20.

Intuit Accountants Resources:

• The May 2022 calendar with filing deadlines and reminders for you and your clients.
• Key tax facts for 2021

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

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