Key tax dates for October 2023 include monthly filing requirements related to payroll taxes, some semiweekly requirements, and a few deadlines unique to the month.
Monthly requirements
If your church or organization reported withheld taxes of $50,000 or less during the most recent lookback period (for 2023 the lookback period is July 1, 2021, through June 30, 2022), then deposit withheld payroll taxes each month. Monthly deposits are due by the 15th day of the following month.
Note, however, that if withheld taxes are less than $2,500 at the end of any calendar quarter (March 31, June 30, September 30, or December 31), the church need not deposit the taxes. Instead, it can pay the total withheld taxes directly to the IRS with its quarterly Form 941. Withheld taxes include federal income taxes withheld from the employee’s wages, the employee’s share of Social Security and Medicare taxes, and the employer’s share of Social Security and Medicare taxes.
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Semiweekly requirements
If your church or organization reported withheld taxes of more than $50,000 during the most recent lookback period (for 2023 the lookback period is July 1, 2021, through June 30, 2022), then deposit withheld payroll taxes semiweekly.
For Wednesday, Thursday, or Friday paydays, deposit payroll taxes on or by the following Wednesday. This is a must.
For all other paydays—deposit payroll taxes on the Friday after the payday. This is also a must.
Note further that large employers having withheld taxes of $100,000 or more at the end of any day must deposit the taxes by the next banking day. The deposit days are based on the timing of the employer’s payroll. Withheld taxes include federal income taxes withheld from the employee’s wages, the employee’s share of Social Security and Medicare taxes, and the employer’s share of Social Security and Medicare taxes.
October 16, 2023: Form 1040 due for taxpayers who filed for a six-month extension
Last day to file a 2022 federal income tax return (Form 1040) for taxpayers who obtained an automatic six-month extension by filing a Form 4868 by April 18, 2023 (April 19 if you live in Maine or Massachusetts).
October 30, 2023: File employer exemption (Form 8274)
Churches hiring their first nonminister employee between July 1 and September 30 may exempt themselves from the employer’s share of FICA (Social Security) taxes by filing Form 8274 by this date. (After that, treat nonminister employees as self-employed for Social Security purposes).
Only churches that oppose paying the employer’s share of FICA taxes on the basis of religious principles can use this exemption.
October 31, 2023: File quarterly federal tax return (Form 941) with payment
Churches having nonminister employees (or one or more ministers who report their federal income taxes as employees and who have elected voluntary withholding) must file an employer’s quarterly federal tax return (Form 941) for the third calendar quarter by this date.
Enclose a check in the total amount of all withheld taxes (withheld income taxes, withheld FICA taxes paid by the employee, and the employer’s share of FICA taxes) if less than $2,500 on September 30, 2023.
For complete information, consult the 2023 Church & Clergy Tax Guide by Richard R. Hammar, JD, LLM, CPA. Visit ChurchLawAndTax.com for the expert insights you need to manage tax issues with confidence