Federal Income Tax Due Dates:
Just about everyone knows that the Individual tax Due Date (Form 1040) is April 15th of the following year. You can request an extension on or prior to April 15th which will give you a 6 month extension until October 15th. Please note the extension applies to only the filing of the tax return. If there is money due and you file an extension you will be subject to penalties and interest.
Corporate Tax returns are due 2 and 1/2 months from their year-end or for Corporations with a December 31 year-end the Corporate tax return be it a 1120 or a 1120S are due on March 15. You can request a 6 month extension prior to the due date which for December 31 year-end tax filers would be September 15th. Please note the extension applies to only the filing of the tax return. If there is money due and you file and extension you will be subject to penalties and interest.
Partnership Tax returns (Form 1065) are due on April 15th. You can request a 5 month extension prior to the due date which would be until September 15th.
Estimated Tax Payments:
The Estimated Tax Payments on Individual Taxes (Form 1040) including those tax payers that are Sole Proprietors with Schedule C’s are due on a quarterly basis only its the IRS and Congress’s quarters which are not your dad’s quarters. The estimated taxes for individuals are due on April 15th, June 15th, September 15th and January 15th which are certainly not your normal quarters. Usually the amount is based on your prior year total tax.
The Estimated Tax Payments on Corporations (Form 1120) are also due on a quarterly basis and once again they are not even quarters or the same due dates as the Individual Taxes. They are due on April 15th, June 15th, September 15 and December 15th. There are exceptions but the Form 1120S and Partnerships are usually pass thru entities where the tax is passed on to the individual stockholders or partners and the estimated tax payments are made at the Individual level.
Payroll Tax Due Dates:
The Form 941, the Employers Quarterly Federal Tax Return, is due by the end of the following month of the quarter. The quarters for payroll actually run as you would expect with the quarter months running Janaury- March, April-June, July-September and October-December making the due dates the end of April, July, October & January. The Form 941 is used to pay to the IRS the Federal Withholdings, Social Security and Medicare payments both the amounts withheld from the employees and the company match.
Those are just the dates for the filing of the forms but not the due dates for payments. The payments for those Employers who reported $50,000 or less taxes on the look back year period of the 4 quarters ending the previous June 30 are due by the 15th of the following month for which they were collected. As an example the payroll taxes for August are due by September 15th.
The Form 940 is for Federal Unemployment Taxes not be confused with state income taxes. The 940 is due by January 31 of the following year. Payments however are due by the end of the month following the quarters ending March, June, September, and December when you have more than a $500.00 tax liability.
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Need forms? We got them! (Click to download)
Form W-9 Request for Taxpayer Identification Number and Certification
Form 2848 Power of Attorney and Declaration of Representation
Form W-4 Employee’s Withholding Allowance Certificate
Form SS-4 Application for Employer Identification Number
Personal Income Tax Return Data – Download and fill this out and we’ll have all the necessary information to complete your tax return.
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