June 2022 tax and compliance deadlines

Hello June! Welcome to the summer, where it’s time to work on your practice. While you’re assessing your firm and year so far, don’t forget about some important tax and compliance deadlines for June 2022.

In June, it’s recommended that you:

• File returns or extensions for taxpayers abroad.
• Review tax law changes for 2022. 
• Review tax plans for second-quarter estimates for individuals and businesses.

Key Compliance Dates:

Thursday, June 2—Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 25-27. 

Friday, June 3—Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 28-31. 

Wednesday, June 8—Semiweekly depositors deposit FICA and withheld income tax on wages paid on June 1-3. 

Friday, June 10:

• Semiweekly depositors deposit FICA and withheld income tax on wages paid June 4-7. 
• Tipped employees who received $20 or more in tips during May report them to the employer on Form 4070 (in Publication 1244, Employee’s Daily Record of Tips and Report to Employer).

Wednesday, June 15: 

• Individuals. Remind your individual clients to make payments of their 2022 estimated tax if they are not paying their income tax for the year through withholding (or won’t pay in enough tax that way). Use Form 1040-ES. This is the second installment date for estimated tax in 2022. For more information, see Publication 505, Tax Withholding and Estimated Tax.
• Corporations. Deposit the second installment of estimated income tax for 2022. A worksheet, Form 1120-W, is available to help you estimate your tax for the year. 
• Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in May. 
• Semiweekly depositors deposit FICA and withheld income tax on wages paid June 8-10. 

Friday, June 17—Semiweekly depositors deposit FICA and withheld income tax on wages paid June 11-14. 

Thursday, June 23—Semiweekly depositors deposit FICA and withheld income tax on wages paid June 15-17. 

Friday, June 24—Semiweekly depositors deposit FICA and withheld income tax on wages paid June 18-21.

Wednesday, June 29—Semiweekly depositors deposit FICA and withheld income tax on wages paid June 22-24.

Intuit Accountants Resources:

• The June 2022 calendar with filing deadlines and reminders for you and your clients.
• Key tax facts for 2021 and Key tax facts for 2022.

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