August 12 – 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 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.
2019 Business Due Dates
August 12 – Social Security, Medicare and Withheld Income Tax
File Form 941 for the second quarter of 2019. 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.