April 2023 tax and compliance deadlines

April is the time of year accountants are really busy and looking forward to taking take some much-needed time off. While you’re finishing up busy season, don’t forget about important tax and compliance deadlines for April 2023. Be sure to share this list with your clients.

In April, it is recommended that you:

• File extensions for individual clients who will not meet the April 18 filing deadline. 
• Conduct reviews of clients’ prior-year returns to determine the need for amended returns. 
• File extensions for corporate clients who will not meet the April 18 filing deadline.

Tax compliance deadlines:

Wednesday, April 5—Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 29-30.

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

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

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

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

Tuesday, April 18:

• Individuals. Remind your individual clients to file 2022 returns (Form 1040 or Form 1040-SR) and pay any tax due; alternatively, have them file for an automatic six-month extension (Form 4868, Application for Automatic Extension To File U.S. Individual Income Tax) and pay what they estimate they owe in tax to avoid penalties and interest.
• Calendar-year C corporations. File 2022 returns on Form 1120; alternatively, file for an automatic six-month extension (Form 7004).
• Corporations. File a 2022 calendar-year income tax return (Form 1120, U.S. Corporation Income Tax Return) and pay any tax due. If they want an automatic six-month extension of time to file the return, file Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns, and deposit what they estimate they owe in taxes. Deposit the first installment of estimated income tax for 2023.
• Fiduciary:
  • File a 2022 calendar-year income tax return (Form 1041) and pay any tax due. If you want an automatic 5½­-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe in taxes. Deposit the first installment of estimated income tax for 2023.
  • Individuals and calendar-year corporations pay first installment of 2022 estimated tax. Monthly depositors deposit FICA and withheld income tax for March.
  • If your individual clients are not paying their 2023 income tax through withholding (or won’t pay in enough tax during the year that way), have them pay the first installment of their 2023 estimated tax. Use Form 1040-ES.
• Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in March.
• Household employers. If you paid cash wages of $2,300 or more in 2022 to a household employee, you must file Schedule H (Form 1040), Household Employee Taxes.

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

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

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

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

Intuit Accountants Resources:

• The April 2023 calendar with filing deadlines and reminders for you and your clients.
• IRS annual inflation adjustments for tax years 2021 and 2022.
• Key tax facts for 2022.