Tax season is upon us, and while some deadlines have already passed, many are still to come. Here are some of the most important tax deadlines when looking forward as an individual, corporation, or startup.
March 15th, S-corp and Partnership extensions and S-corp and C-corp elections are due. Partnerships and S-corp exist within the world of small business, so it’s essential to get extensions in order to avoid penalties and to keep the business healthy. Elections are similarly important to make sure the proper persons are being taxed.
March 31st, eFilling deadline. For the majority of documents such as 1097, 1098, and 1099’s this is the final date for eFilling. For specific corporations that file taxes for an individual, the due date tends to be around this time. An example being Cleer Tax with the filing due on March 24th.
April 18th, this is both tax day and the extension due date. C-corps and LLCs are two of the groups who have to be prepared for this day in particular. It’s also important to remember that this is when the first quarter estimated tax payments are due. The next payment to worry about is the second quarter which is due on June 15th.
These are just a few of the upcoming most important dates for filing. Missing these dates without requesting an extension can lead to thousands of dollars and fees. So don’t delay, tax season is here.