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The Complete Idiot's Guide® To Accounting by Lita Epstein, Shellie L. Moore

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May

May 10—You should collect Form 4070, “Employee’s Report of Tips to Employer,” from any employee who received $20 or more in tips.
May 15:
• If you pay your Social Security, Medicare, and income taxes withheld on a monthly deposit, you should make that deposit by this date for the April payment.
• If you withhold nonpayroll taxes and you deposit these taxes monthly, you should deposit the April payment by this date.
Memorial Day is a federal holiday observed the last Monday in May. Banks and federal offices are closed, as well as many state offices and other businesses.

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