July 2017 Tax and Compliance Deadlines

Tax Law and News July 4

Happy birthday, America! While you’re busy firing up the grill and celebrating our independence, don’t forget about important tax and compliance deadlines in July. Here’s a list for your review.

In July, it is recommended that you:

  • Alert clients to 2017 mid-year tax planning opportunities.
  • Schedule continuing professional education for 2017.

Key Compliance Dates:

Thursday, July 6 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on June 28-30.

Friday, July 7 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 1-4.

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

Wednesday, July 12 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 5-7.

Friday, July 14 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 8-11.

Monday, July 17 – Monthly depositors deposit FICA and withheld income tax for June.

Wednesday, July 19 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 12-14.

Friday, July 21 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 15-18.

Wednesday, July 26 – Semiweekly depositors deposit FICA and withheld income tax on wages paid July 19-21.

Friday, July 28 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on July 22-25.

Monday, July 31

  • Deposit FUTA tax owed through June if more than $500.
  • File Form 941, Employer’s Quarterly Federal Tax Return, for the second quarter of 2017 (if tax deposited in full and on time, file by Aug. 10).
  • File 2016 Form 5500, Annual Return/Report of Employee Benefit Plan, or 5500-EZ, Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan, for calendar-year retirement and benefit plans.

 Intuit® ProConnect™ Resources:

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

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