October 2017 Tax and Compliance Deadlines

Tax Law and News
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Fall

Ah, October! There’s a chill in the air, pumpkins outside the front door and a debate over this year’s most popular costume. Welcome to your monthly summary of important tax and compliance deadlines. Here’s a list for your review.

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 plan provides post-year-end grace period or carryover.
  • File returns for individual clients who obtained automatic six-month extensions.
  • Renew your Preparer Tax Identification Number (PTIN) for 2018.

Key Compliance Dates:

Wednesday, Oct. 4 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Sept. 27-29.

Friday, Oct. 6 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Sept. 30-Oct. 3.

Tuesday, Oct. 10 – 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. 12 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Oct. 4-6.

Friday, Oct. 13 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Oct. 7-10.

Monday, Oct. 16

  • Monthly depositors deposit FICA and withheld income tax for September.
  • Individuals file 2016 income tax return if automatic six-month extension was obtained.

Wednesday, Oct. 18 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Oct. 11-13.

Friday, Oct. 20 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Oct. 14-17.

Wednesday, Oct. 25 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Oct. 18-20.

Friday, Oct. 27 – Semiweekly depositors deposit FICA and withheld income tax on wages paid on Oct. 21-24.

Tuesday, Oct. 31

  • Employers file Form 941, Employer’s Quarterly Federal Tax Return, for the third quarter of 2017 (if tax was deposited tax in full and on time, file by Nov. 10).
  • Deposit FUTA tax owed through September if more than $500.

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Dorinda DeScherer

Dorinda DeScherer is an attorney specializing in tax and employment law. She is an honors' graduate of Barnard College of Columbia University and the University of Maryland School of Law. She is currently a principal with Editorial Resource Group, where she specializes in writing and editing professional publications.