No one wants to pay more to the IRS than they should, right? Well one way to ensure that you don’t pay penalties is to know the important tax filing dates they have established. We all hear about “April 15th” but what we don’t hear about too often are the other dates that business owners need to comply with. We’ve listed them below, and of course if you are a client of ours, we will keep you up to date and make sure to get your forms filed in time (assuming you give us what we ask you for.) 😉
January 31 – All 1099’s (for your subcontractors), W-2’s (for employees), Annual FUTA 940 payroll tax return, and Fourth quarter 941 payroll tax return for previous year, are due by January 31st.
February 28 – If you file the old fashioned way (paper), 1099 statements and W-2/W-3 statements are due.
March 15 – This is the tax filing deadline for corporate tax returns (which includes LLC’s that have elected to be classified as corporations) as well as S Corporation elections.
March 31 – If you file electronically, your 1099 statements are due to the IRS and your electronic W-2/W-3 statements are due to the Social Security Administration (SSA.)
April 15 – Yes, this is the big one. All personal, sole-proprietor, partnership, LLC’s classified as sole proprietor or partnership, trust, and estate tax returns are due for calendar year taxpayers. For business owners, it’s also the due date for the first quarter estimated tax payments.
I hope this helps. Keep in mind, even if you use a professional to file these for you, they will likely need input from you. For example, they might not know who your contractors are, or know how much you paid them, so make sure to make an appointment with your accountant or tax preparer far in advance to allow time to get them what they need, to help you stay on track and not miss any deadlines.
Well it’s that season, so I’ve got to get back to it. I am happy to help you in any way that I can so if you have any questions, just reach out to me via email. The best email address is info@bascexpertise.com; this way if I am not free when you email, one of my staff members can respond to get your answers to you sooner rather than later.
