March 2023 tax and compliance deadlines

In March, you’ve only got a few more weeks to help your clients meet the traditional tax deadline. Along the way, don’t forget about important tax and compliance deadlines for March 2023. Be sure to share this list with your clients.

In March, it is recommended that you:

• File extensions for individuals who have not met your deadline for return preparation.
• Remind individual clients of the April 18 estimated tax payment.
• File extensions for S corporations or partnerships that will not meet the March 15 filing deadline.

Tax compliance deadlines:

Wednesday, March 1:

• Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 22-24.
• Farmers and fishermen: File your 2022 income tax return (Form 1040 or Form 1040-SR) and pay any tax due. However, you have until April 18 to file if you paid your 2022 estimated tax by Jan. 17, 2023.

Friday, March 3—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Feb. 25-28.

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

Thursday, March 9—Tipped employees who received $20 or more in tips during February report them to the employer on Form 4070, Employee’s Report of Tips to Employer.

Friday, March 10—Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 4-7.

Monday, March 13—Monthly depositors deposit FICA and withheld income tax for February. 

Wednesday, March 15:

• Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 8-10.
• Partnerships: File a 2022 calendar-year return (Form 1065, U.S. Return of Partnership Income). Provide each partner with a copy of their Schedule K-1, Form 1065, Partner’s Share of Income, Deductions, Credits, etc., or substitute Schedule K-1, Form 1065 and, if applicable, Schedule K-2, Form 1065, Partner’s Distributive Share Items—International) or substitute Schedule K-3, Form 1065, Partner’s Share of Income, Deductions, Credits, etc.—International).
• S corporations: File a 2022 calendar-year income tax return (Form 1120-S, U.S. Income Tax Return for an S Corporation) and pay any tax due. Provide each shareholder with a copy of their Schedule K-1, Form 1120-S, Shareholder’s Share of Income, Deductions, Credits, etc., or substitute Schedule K-1, Form 1120-S and, if applicable, Schedule K-3, Form 1120-S, Shareholder’s Share of Income, Deductions, Credits, etc.—International or substitute Schedule K-3, Form 1120-S.

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

Wednesday, March 22—Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 15-17.

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

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

Friday, March 31:

• Electronically file of Form 1098, Mortgage Interest Statement, and Form 1099, Miscellaneous Information, is due. The due date for giving the recipient these forms generally remains January 31.
• Semiweekly depositors deposit FICA and withheld income tax on wages paid on March 25-28.

Intuit Accountants Resources:

• The March 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.

Comments are closed.