May 2017 tax compliance calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of May 2017.

May 1

Employers. File Form 941 for the first quarter of 2017 for employment taxes if you have not deposited the tax for the quarter timely, properly, and in full. Deposit or pay any undeposited tax under the accuracy of deposit rules.

Deposit federal unemployment tax (FUTA) owed through March if more than $500.

May 3

Employers. Semi-weekly depositors must deposit employment taxes for April 26–28.

May 5

Employers. Semi-weekly depositors must deposit employment taxes for April 29 and May 1–2.

May 10

Employers. File Form 941 for the first quarter of 2017 for employment taxes if you deposited the tax for the quarter timely, properly, and in full.

Employees who work for tips. Employees who received $20 or more in tips during April must report them to their employer using Form 4070.

Employers. Semi-weekly depositors must deposit employment taxes for May 3–5.

May 12

Employers. Semi-weekly depositors must deposit employment taxes for May 6–9.

May 15

Employers. For those to whom the monthly deposit rule applies, deposit employment taxes and nonpayroll withholding for payments in April.

May 17

Employers. Semi-weekly depositors must deposit employment taxes for May 10–12.

May 19

Employers. Semi-weekly depositors must deposit employment taxes for May 13–16.

May 24

Employers. Semi-weekly depositors must deposit employment taxes for May 17–19.

May 26

Employers. Semi-weekly depositors must deposit employment taxes for May 20–23.

Written by

Steve Moss, CPA is a partner at Holden Moss CPAs and loves helping businesses and their owners grow to be the very best they can be. Our other offices include Raleigh, Oxford and Warrenton.

We are a little different at Holden Moss CPAs. While we still provide traditional tax and accounting services, years ago we realized many clients wanted help in running their businesses and were hungry for ideas, solutions, strategy, and execution. In response, we expanded our skill set and joined Ran One, a global network of business consulting firms. Our membership with Ran One gives us access to proprietary resources and analytical software to help our clients grow, become more profitable and valuable, and have the lifestyle they desire.

Now, blended into the fabric of our normal tax and accounting needs, we are focused on our clients’ businesses in a very different way. While our approach is not right for everyone, for those whom it is, incredible results may be obtained. Whether you have a new, or established, business, or for those in transition of selling or retiring, or for those who simply need to develop an exit strategy or succession plan, our unique approach to client service may be the edge you need.

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