July 2017 Tax and Compliance Deadlines

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:

• The July 2017 Calendar with filing deadlines and reminders for you and your clients
• Key Tax Facts for the 2016 Return and Key Tax Facts for 2017
• New Tax Law Changes for 2016 and New Tax Developments for 2017 and Beyond

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