Tax deadline observance is a crucial aspect of businesses’ responsible financial management. Tax filing and payment deadlines that are missed can result in penalties and unnecessary tension. To assist you in navigating the complex terrain of tax obligations, we have compiled a comprehensive calendar of important tax deadlines for businesses. Whether your business is a small startup or a well-established company, this calendar will keep you informed and ready to meet your tax obligations on time.
Quarter 1: January – March
- January 15: Fourth quarter estimated tax payments for individuals and businesses are due.
- January 31: Deadline for providing Form W-2 to employees and Form 1099-MISC to contractors.
- March 15: Deadline for filing Form 1065 (Partnership Tax Return) or Form 7004 (Extension).
- March 15: S Corporation tax return (Form 1120S) or extension (Form 7004) deadline.
Quarter 2: April – June
- April 15: Individual income tax returns (Form 1040) and payments are due.
- April 15: Deadline for filing C Corporation tax return (Form 1120) or extension (Form 7004).
- April 15: First quarter estimated tax payments for individuals and businesses.
- June 15: Second quarter estimated tax payments for individuals and businesses.
Quarter 3: July – September
- September 15: Extended deadline for filing partnership tax returns (Form 1065).
- September 15: Extended deadline for filing S Corporation tax returns (Form 1120S).
- September 15: Third quarter estimated tax payments for individuals and businesses.
Quarter 4: October – December
- October 15: Extended deadline for filing individual income tax returns (Form 1040).
- October 15: Extended deadline for filing C Corporation tax returns (Form 1120).
- December 15: Fourth quarter estimated tax payments for individuals and businesses.
- December 31: Deadline for making deductible contributions to retirement accounts for the tax year.
Important tax deadlines must be noted on your company’s calendar to ensure efficient financial operations. Failure to meet these deadlines may result in penalties and unwanted tax authority attention. By remaining organized and preparing in advance, you can avoid the stress and potential financial setbacks associated with missing crucial tax filing and payment dates. Consider working with a qualified tax professional who can ensure you are in complete compliance with all tax obligations if you have complex tax situations or require assistance. Remember that a business that is well-prepared is financially resilient.