October 2017 Tax Deadlines

Major Tax Deadlines for October 2017

• October 16 – Filing deadline for 2016 tax returns for individuals or corporations if you requested/received a six-month extension. Pay taxes due by this date.
• October 16 – Deadline to recharacterize a Roth IRA to a Traditional IRA.
• October 16 – Deadline to fund your Keogh or SEP plans if you requested a filing extension.

If you were impacted by Hurricanes Irma, Harvey, or Maria, certain deadline extensions may be available to you. Click here for more details on tax relief for hurricane victims.

Note: Businesses are required to make federal tax deposits on dates determined by various factors that differ from business to business.

Payroll tax deposits: Employers generally must deposit Form 941 payroll taxes (income tax withheld from employees’ pay and both the employer’s and employees’ share of FICA taxes) on either a monthly or semiweekly deposit schedule. There are exceptions if you owe $100,000 or more on any day during a deposit period, if you owe $2,500 or less for the calendar quarter, or if your estimated annual liability is $1,000 or less.

* Monthly depositors are required to deposit payroll taxes accumulated within a calendar month by the fifteenth of the following month.

* Semiweekly depositors generally must deposit payroll taxes on Wednesdays or Fridays, depending on when wages are paid.
For more information on tax deadlines that apply to you or your business, contact our office.