August 12 - Report Tips to Employer
Employees who work for tips and get more than $20 in tips in July must submit that information to their employer by August 12 on IRS Form 4070. It is mandatory for your employer to deduct income tax and FICA taxes from your normal earnings in exchange for these tips. Your employer will record the amount of uncollected withholding in box 8 of your W-2 for the year if your regular pay are not enough to meet the FICA and tax withholding. As you file your annual return, you will have to pay the uncollected withholding.
Weekends & Holidays
A deadline is automatically extended to the following business day that is not also a legal holiday if it falls on a Saturday, Sunday, or legal holiday.
Disaster Area Extensions: Please note that when a geographical area is designated as a disaster area, due dates will be extended. For more information whether an area has been designated a disaster area and the filing extension dates visit the following websites:
FEMA: https://www.fema.gov/disaster/declarations
IRS: https://www.irs.gov/newsroom/tax-relief-in-disaster-situations
August 2024 Business Due Dates
August 12 - Social Security, Medicare and Withheld Income Tax
File Form 941 for the second quarter of 2024. This due date applies only if you deposited the tax for the quarter in full and on time.
August 15 - Social Security, Medicare and Withheld Income Tax
If the monthly deposit rule applies, deposit the tax for payments in July.
August 15 - Non-Payroll Withholding
If the monthly deposit rule applies, deposit the tax for payments in July.
Weekends & Holidays
If a due date falls on a Saturday, Sunday or legal holiday, the due date is automatically extended until the next business day that is not itself a legal holiday.
Disaster Area Extensions: Please note that when a geographical area is designated as a disaster area, due dates will be extended. For more information whether an area has been designated a disaster area and the filing extension dates visit the following websites:
FEMA: https://www.fema.gov/disaster/declarations
IRS: https://www.irs.gov/newsroom/tax-relief-in-disaster-situations
