It can be hard to make it through one of the trends of the year. Tax season. Yet it’s something everyone has to go through. There are endless worries with taxes, but one thing that doesn’t have to be stressed is tax deadlines. Here are a few key things to know about who and when to file.
A date that’s already passed is the filing deadline for S-corp and partnerships, both for returns and elections. Just like tax day though, this deadline had extensions available. This moved the due date back to September 15th, six months from the initial deadline. Tax day, April 18th, is rapidly approaching, but the possibilities of extension make it a far less stressful event. Filing an extension here will move the date back to October 16th.
Tax day is the date where most people and corporations will file. LLC’s, individuals, and C-corps all have to file or at least submit an extension at this point. The danger in failing to do so can be severe fees. Tax day also represents the due date for the first quarter of estimated tax payments. All profitable corporations have these payments due in a quarterly format.
This starts on tax day with Q1, then Q2 on June 15th, Q3 September 15th, and Q4 January 17th. Finally there’s one last date worth remembering. For those filing 1097-99’s, March 31st is when these are due. And those are the major dates worth remembering. It’s with these dates that one can stay ahead and prepared. There aren’t an overwhelming amount of dates, it’s just a matter of being ready for them. A final note is that for those filing through a company, these dates tend to be pushed even earlier. This allows the company time to scan and file themselves, so keep this in mind.
