October 2022 tax and compliance deadlines

Pumpkins, pumpkins, and more pumpkins. While you’re donning your costume for this month’s festivities, don’t forget about important tax and compliance deadlines for Oct. 2022. Be sure to share this list with your clients.

In October, it’s recommended that you:

• Schedule year-end tax planning sessions with individual clients. 
• File returns for individual and C corporation clients who obtained automatic six-month extensions. 
• Renew your Preparer Tax Identification Number (PTIN) for 2023. 
• Schedule some much-needed rest and continuing education.

Key Compliance Dates:

Wednesday, Oct. 5—Semiweekly depositors deposit FICA and withheld income tax on wages paid on September 28-30.

Friday, Oct. 7—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Oct. 1-4.

Monday, 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. 13:

• Semiweekly depositors deposit FICA and withheld income tax on wages paid on Oct. 5-7. 
• Monthly depositors deposit FICA and withheld income tax for September.

Friday, Oct. 14—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Oct. 8-11.

Monday, Oct. 17:

• Individuals. If you have an automatic six-month extension to file your income tax return for 2021, file Form 1040 or Form 1040-SR, and pay any tax, interest, and penalties due.
• Corporations. File a 2021 calendar-year income tax return (Form 1120, U.S. Corporation Income Tax Return) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic six-month extension. 
• Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in September. 

Wednesday, Oct. 19—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Oct. 12-14.

Friday, Oct. 21—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Oct. 15-18.

Wednesday, Oct. 26—Semiweekly depositors deposit FICA and withheld income tax on wages paid on Oct. 19-21.

Friday, October 28—Semiweekly depositors deposit FICA and withheld income tax on wages paid on October 22-25.

Monday, October 31: 

• Social Security, Medicare, and withheld income tax: File Form 941 for the third quarter of 2022. 
• Employers file Form 941 for the third quarter of 2022 (if tax was deposited in full and on time, file by November 10). 
• Deposit FUTA tax owed through September if more than $500.

Intuit Accountants Resources:

• The October 2022 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 2021 and Key tax facts for 2022.

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

2 responses to “October 2022 tax and compliance deadlines”

1. 

   On individual 6 month extension, with balance due, how do I calculate interest and penalty and what form do I use?
   • 

     Hi Sherry – Good question, but please consult with your tax and accounting advisor; if you do not have one, please visit https://quickbooks.intuit.com/find-an-accountant/. Thanks.