Tax Law and News

May 2026 tax and compliance deadlines

Written by Christopher J. Picciurro, CPA/PFS, MBA, ARA
Modified Apr 15, 2026
1 min read

Congratulations on surviving another busy season! By now, you’ve hopefully caught up on lost sleep, working on plans for the summer, and catching up on your favorite streaming show. Along the way, don’t forget to take a look at May’s tax and compliance deadlines, and be sure to share this list with your clients.

In May, it is recommended that you:

Review client estate plans:

Coordinate with estate planning attorneys regarding increased unified credit and portability updates.
Communicate gift tax exclusion changes: Explain annual implications of the higher exclusion to high-net-worth clients.
Confirm lifetime gift planning strategies: Ensure clients are fully using exemption thresholds.

Evaluate 529 rollover opportunities: Identify clients who could benefit from rolling 529 plans into estate-linked trusts.

Educate on step-up in basis: Reinforce how retaining step-up at death underscores the importance of proper asset titling.

Key Compliance Dates

Monday, May 11: Employees report April tips to employers (Form 4070).

Friday, May 15:

Deposit payroll taxes for April if monthly depositor.
File Form 990 series for calendar-year exempt organizations.
Employers applying the monthly deposit rule must deposit Social Security, Medicare, and withheld income tax on payments made in April.

Friday, May 29: Deposit excise taxes for May 1-15 period.

Monday, June 1: File Form 2290, Heavy Highway Vehicle Use Tax Return, for vehicles first used in April.

Intuit® Accountant Resources

Key Tax Facts for 2025
The May 2026 calendar with filing deadlines and reminders for you and your clients.
Tax update for TY26: Navigating the OB3 Act and more
One Big Beautiful Bill summary and tax changes
Navigating the tax landscape
IRS annual inflation adjustments for tax years 2025 and 2026

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Chris Picciurro is a highly respected expert in U.S.-based tax planning and strategy for real estate investors. Based in Franklin, TN, where he resides with his family, Chris is an accomplished public speaker, recognized for delivering informative and engaging presentations at notable events hosted by organizations such as the National Association of Tax Professionals (NATP), Michigan Association of CPAs, and the Memphis Investment Group. He also previously participated as an Adjust Professor at Baker College and Davenport University. Chris served on the Intuit Tax Council from 2017-2020, and is a co-founder and executive officer of the Integrated CPA Group, founder of Teaching Tax Flow, and the Monthly Recurring Revenue Institute. More from Christopher J. Picciurro, CPA/PFS, MBA, ARA