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July 2010 Individual Due Dates
July 1 - Time to Review Your 2010 Year-to-Date Income and Expenses
Time to review your 2010 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties.
July 12 - Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during June, you are required to report them to your employer on IRS Form 4070 no later than July 12. Your employer is required to withhold FICA taxes and income tax withholding for these tips from your regular wages. If your regular wages are insufficient to cover the FICA and tax withholding, the employer will report the amount of the uncollected withholding in box 12 of your W-2 for the year. You will be required to pay the uncollected withholding when your return for the year is filed.
- July 2010 Business Due Dates
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July 15 - Social Security, Medicare and Withheld Income TaxIf the monthly deposit rule applies, deposit the tax for payments in June.July 15 - Non-Payroll WithholdingIf the monthly deposit rule applies, deposit the tax for payments in June....
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- August 2010 Individual Due Dates
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August 10 - Report Tips to EmployerIf you are an employee who works for tips and received more than $20 in tips during July, you are required to report them to your employer on IRS Form 4070 no later than August 10. Your employer is required to withhold...
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- August 2010 Business Due Dates
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August 2 - Social Security, Medicare and Withheld Income TaxFile Form 941 for the second quarter of 2010. Deposit or pay any undeposited tax under the accuracy of deposit rules. If your tax liability is less than 2,500, you can pay it in full with a timely...
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