May 2016 Business Due Dates

May 2 –  Federal Unemployment Tax

Deposit the tax owed through March if it is more than $500.

May 2 – Social Security, Medicare and Withheld Income Tax

File Form 941 for the first quarter of 2016. Deposit or pay any undeposited tax under the accuracy of deposit rules. If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for the quarter in full and on time, you have until May 10 to file the return.

May 10 – Social Security, Medicare and Withheld Income Tax

File Form 941 for the first quarter of 2016. This due date applies only if you deposited the tax for the quarter in full and on time.

May 16 – Employer’s Monthly Deposit Due

If you are an employer and the monthly deposit rules apply, May 16 is the due date for you to make your deposit of Social Security, Medicare and withheld income tax for April 2016. This is also the due date for the non-payroll withholding deposit for April 2016 if the monthly deposit rule applies.

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