3rd Quarter Tax Tips

 

3rd Quarter 2022


The third quarter of a calendar year is made up of July, August, and September.

July 10:
Employees who work for tips. If you received $20 or more in tips during June, report them to your employer. You can use Form 4070.

August 10:

Employees who work for tips. If you received $20 or more in tips during July, report them to your employer. You can use Form 4070.

September 10:

Employees who work for tips. If you received $20 or more in tips during August, report them to your employer. You can use Form 4070.

September 15:

Individuals. Make a payment of your 2022 estimated tax if you are not paying your income tax for the year through withholding (or will not pay in enough tax that way). Use Form 1040-ES. This is the third installment date for estimated tax in 2022. For more information, see Publication 505.

Corporations. File a 2021 calendar year income tax return (Form 1120 or 1120-A) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic 6-month extension. Otherwise, see March 16

S corporations. File a 2021 calendar year income tax return (Form 1120S) and pay any tax due. This due date applies only if you timely requested an automatic 6-month extension. Otherwise, see March 16. Provide each shareholder with a copy of Schedule K-1 (Form 1120S) or a substitute Schedule K-1. 

Corporations. Deposit the third installment of estimated income tax for 2021. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.

Partnerships. File a 2020 calendar year return (Form 1065). This due date applies only if you were given an additional 5-month extension. Provide each partner with a copy of Schedule K-1 (Form 1065) or a substitute Schedule K-1.