October 2016 Tax and Compliance Deadlines

Because this year’s much-anticipated Oct. 15 deadline occurs on a Saturday, the deadline is Oct. 17 to file individuals 2015 tax returns if an automatic six-month extension was obtained for your clients. Here are some other key tax compliance and due dates for October.

In October, it is recommended that you:

• Conduct year-end tax planning sessions with individual clients.
• Remind individual clients to use flexible spending account funds before year end, unless their plan provides a post year-end grace period.
• File returns for individual clients who obtained automatic six-month extensions.
• Renew your Preparer Tax Identification Number for 2017.

Key Compliance Dates:

• Wednesday, Oct. 5 – Semiweekly depositors deposit FICA and withheld income tax on wages paid Sept. 28-30.
• Friday, Oct. 7 – Semiweekly depositors deposit FICA and withheld income tax on wages paid Oct. 1-4.
• Tuesday, Oct. 11 – Tipped employees who received $20 or more in tips during September report them to the employer on Form 4070, Employee’s Report of Tips to Employer.
• Thursday, Oct. 13 – Semiweekly depositors deposit FICA and withheld income tax on wages paid Oct. 5-7.
• Friday, Oct. 14 – Semiweekly depositors deposit FICA and withheld income tax on wages paid Oct. 8-11.
• Monday, Oct. 17 – Monthly depositors deposit FICA and withheld income tax for September. Individuals file 2015 income tax return if automatic six-month extension was obtained.
• Wednesday, Oct. 19 – Semiweekly depositors deposit FICA and withheld income tax on wages paid Oct. 12-14.
• Friday, Oct. 21 – Semiweekly depositors deposit FICA and withheld income tax on wages paid Oct. 15-18.
• Wednesday, Oct. 26 – Semiweekly depositors deposit FICA and withheld income tax on wages paid Oct. 19-21.
• Friday, Oct. 28 – Semiweekly depositors deposit FICA and withheld income tax on wages paid Oct. 22-25.
• Monday, Oct. 31 – Employers file Form 941, Employer’s Quarterly Federal Tax Return, for the third quarter of 2016 (if tax was deposited tax in full and on time, file by Nov. 10). Deposit federal unemployment tax owed through September if more than $500.

Intuit^® ProConnect™ Resources:

• The October 2016 Calendar with filing deadlines and reminders for you and your clients.
• Key Tax Facts for the 2016 Return
• New Tax Law Changes for 2016

As always, visit the Intuit ProConnect Tax Pro Center for more information and training resources.