October 2023 tax and compliance deadlines

October is a great month to celebrate all the colors of the fall … and even a little bit of mischief with Halloween just around the corner. Along the way, don’t forget about many important tax and compliance deadlines for October 2023. Be sure to share this list with your clients.

In October, it is recommended that you:

• Schedule year-end tax planning sessions with individual clients.
• File returns for individual and C Corporation clients who obtained automatic six-month extensions.
• Renew Preparer Tax Identification Number (PTIN) for 2024.
• Schedule some much needed rest and continuing education.

Key Compliance Dates:

Wednesday, Oct. 4—Semiweekly depositors deposit FICA and withheld income tax on wages paid on September 27-29.

Friday, Oct. 6—Semiweekly depositors deposit FICA and withheld income tax on wages paid on September 30.

Tuesday, Oct. 10—Tipped employees who received $20 or more in tips during September report them to the employer on Form 4070, Employee’s Report of Tips to Employer.

Thursday, Oct. 12:

• Semiweekly depositors deposit FICA and withheld income tax on wages paid on Oct. 4-6.
• Monthly depositors deposit FICA and withheld income tax for September.

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

Monday, Oct. 16:

• Individuals. If you have an automatic 6-month extension to file your income tax return for 2022, file Form 1040 or Form 1040-SR, and pay any tax, interest, and penalties due.
• Corporations. File a 2022 calendar year income tax return (Form 1120) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic 6-month extension. Otherwise, see Corporations under April 18.
• Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in September.

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

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

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

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

Tuesday, Oct. 31:

• Social Security, Medicare, and withheld income tax. File Form 941, Employer’s Quarterly Federal Income Tax Return, for the third quarter of 2023.
• Employers file Form 941 for the third quarter of 2023 (if tax was deposited in full and on time, file by Nov. 13).
• Deposit FUTA tax owed through September if more than $500.

Intuit Accountants Resources

• The October 2023 calendar with filing deadlines and reminders for you and your clients.
• Tax law changes for tax year 2023.
• IRS annual inflation adjustments for tax years 2021 and 2022.
• Key Tax Facts for 2022 and Key Tax Facts for 2023-24