May 2020 tax and compliance deadlines

With spring is in full bloom, you can’t ignore important tax and compliance deadlines. Here’s your list for May 2020.

Key compliance dates:

Friday, May 1 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on April 25-28.

Wednesday, May 6 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on April 29-May 1.

Friday, May 8 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 2-5.

Monday, May 11:

• Tipped employees who received $20 or more in tips during April report them to the employer on Form 4070, Employee’s Report of Tips to Employer.
• Employers file Form 941, Employer’s Quarterly Federal Tax Return, for the first quarter of 2020 if tax for the quarter was deposited in full and on time.

Wednesday, May 13 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 6-8.

Friday, May 15:

• Monthly depositors deposit FICA and withheld income tax for April.
• Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 9-12.

Wednesday, May 20 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 13-15.

Friday, May 22 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 16-19.

Thursday, May 28 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 20-22.

Friday, May 29 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on May 23-26.

Intuit®Accountants resources:

• Key Tax Facts for 2019
• Key Tax Developments for 2019

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