As May rolls in, so do a few crucial IRS deadlines that taxpayers—both individuals and businesses—can’t afford to ignore. Whether you’re running a growing consulting firm in Fairfax or managing payroll for your nonprofit in McLean, keeping up with IRS requirements protects you from penalties and positions you for financial success.
Let’s break down the key filing dates for May 2025 and what you should do to stay compliant.
Important Individual Tax Deadlines: May 2025
May 12 – Report April Tips to Your Employer (Form 4070)
If you’re an employee who receives tips—say, you’re working in hospitality, delivery, or personal services—you must report any tips totaling $20 or more in April to your employer by May 12. This is done using IRS Form 4070, which is part of Publication 1244.
Why it matters:
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- Employers use this form to properly calculate and withhold FICA taxes (Social Security and Medicare) and income taxes from your regular paycheck.
- If your wages aren’t enough to cover the required tax, the uncollected tax will be reported in Box 8 of your W-2. That means you’ll owe this balance when you file your annual return.
Pro Tip: Failing to report tips can trigger IRS penalties or worse—audits. Keep a daily log of tips received and stay ahead of the game.
Business Tax Deadlines: May 2025
Whether you’re a small business owner or a seasoned employer with a full payroll system, there are two major IRS deadlines to keep in mind this month.
May 12 – File Form 941 (If Deposits Were Made On Time)
If you’re a business owner and made all your federal tax deposits for Q1 2025 on time, you need to file Form 941—the Employer’s Quarterly Federal Tax Return—by May 12.
What’s covered under Form 941?
- Social Security and Medicare taxes
- Withheld income taxes from employee paychecks
Missing this can result in penalties or interest, even if you’ve already submitted the deposits. The form is your official quarterly report to the IRS.
Resource: Learn more and download Form 941 at IRS.gov/Form941
May 15 – Monthly Payroll Tax Deposit Due
If you follow monthly deposit rules for payroll taxes, you must submit your April 2025 payroll tax deposit by May 15. This includes:
- Social Security tax
- Medicare tax
- Federal income tax withheld from employees
- Non-payroll items such as backup withholding (if applicable)
Did You Know? Employers with less frequent payrolls often default to monthly deposit schedules—but IRS rules vary. Confirm your deposit frequency using IRS Publication 15 (Circular E).
What If the Due Date Falls on a Weekend or Holiday?
IRS deadlines are automatically moved to the next business day if they fall on a Saturday, Sunday, or legal holiday. So, no need to panic if your deadline lands on a federal holiday—just file on the next working day.
Disaster Area Extensions: What You Should Know
If your business or household is in a federally declared disaster area, the IRS may extend your filing and payment deadlines.
For the latest disaster declarations and the specific relief provided, check:
These extensions can buy you extra time to get your financial house in order after a storm, flood, or wildfire—but they’re not automatic. You need to meet certain criteria.
Recap: May 2025 Deadlines at a Glance
| Date | Who It Affects | Action Required |
| May-12 | Tipped Employees | Report April tips over $20 to employer (Form 4070) |
| May-12 | Businesses (if timely deposits made) | File Q1 2025 Form 941 |
| May-15 | Monthly Payroll Depositors | Deposit April payroll and non-payroll withholdings |
Need Help Meeting These Deadlines?
At JS Morlu, we make tax compliance simple and stress-free. Whether it’s setting up payroll systems, tracking tip income, or managing your Form 941 filings, our team of CPAs and consultants ensures nothing slips through the cracks.
Ready to stay IRS-compliant and financially confident? Contact us today for a personalized consultation.