August 2015 Tax Due Dates

31 July 2015
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A new month brings new tax due dates – but don’t stress. It’s August, and there aren’t too many you need to worry about, so we’ll quickly guide you through them below. Contact us at Dagley & Co. if you have any questions about these due dates.

August 2015 Individual Due Dates

August 10 – Report Tips to Employer

If 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 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.

August 2015 Business Due Dates

August 10 – Social Security, Medicare and Withheld Income Tax

File Form 941 for the second quarter of 2015. This due date applies only if you deposited the tax for the quarter in full and on time.

August 17 – Social Security, Medicare and Withheld Income Tax

If the monthly deposit rule applies, deposit the tax for payments in July.

August 17 – Non-Payroll Withholding

If the monthly deposit rule applies, deposit the tax for payments in July.