LLCs:

• March 15: Deadline for filing Form 1065 (partnership tax return) if the LLC is taxed as a partnership. LLCs taxed as partnerships are pass-through entities, meaning the business itself does not pay taxes, but instead, the profits and losses are passed through to the individual partners, who report them on their individual tax returns. Interesting fact: LLCs are the most popular type of business entity in the United States, with over 36% of all businesses being structured as LLCs.
• April 15: Deadline for filing Form 1040 (individual tax return) or Form 1041 (estate or trust tax return) if the LLC is taxed as a disregarded entity. A disregarded entity is a business entity that is not recognized for tax purposes, so the business owner reports the income and expenses on their personal tax return. Interesting fact: The deadline for individual tax returns (Form 1040) was extended to May 17th for the 2020 tax year due to the COVID-19 pandemic.
• September 15: Deadline for filing an extension for Form 1065 (partnership tax return) if the LLC is taxed as a partnership. Filing an extension gives the partnership an additional six months to file their tax return. Interesting fact: The IRS received over 3 million partnership tax returns in 2019.

C Corporations:

• March 15: Deadline for filing Form 1120 (corporate tax return). C corporations are separate entities from their owners, so they pay taxes on their profits. Interesting fact: C corporations are subject to double taxation, meaning that the profits are taxed at the corporate level and again when distributed to shareholders as dividends.
• April 15: Deadline for filing an extension for Form 1120 (corporate tax return). Similar to the partnership tax return extension, filing an extension gives the corporation an additional six months to file their tax return. Interesting fact: C corporations are required to hold annual shareholder meetings and keep minutes of those meetings, which can be a significant administrative burden for larger corporations.

S Corporations:

• March 15: Deadline for filing Form 1120S (S corporation tax return) and providing Schedule K-1 to shareholders. S corporations are pass-through entities, meaning that the profits and losses are passed through to the individual shareholders, who report them on their individual tax returns. Interesting fact: To be eligible for S corporation status, a business must meet several criteria, including having no more than 100 shareholders and only one class of stock.
• September 15: Deadline for filing an extension for Form 1120S (S corporation tax return). Similar to the partnership and C corporation extensions, filing an extension gives the S corporation an additional six months to file their tax return. Interesting fact: S corporations are popular among small business owners because they offer the limited liability protection of a corporation while avoiding double taxation.

1099-NEC:

• January 31: Deadline for furnishing Form 1099-NEC to recipients and for filing with the IRS.
• If you file electronically, the deadline is also January 31.

1099-MISC:

• January 31: Deadline for furnishing Form 1099-MISC to recipients if reporting non-employee compensation in Box 7, and for filing with the IRS if filing on paper.
• March 31: Deadline for filing with the IRS if filing electronically.

It’s important to note that the deadlines for furnishing and filing 1099 forms are the same for all entities, including LLCs, C corporations, and S corporations.

Interesting fact: The 1099-NEC form was reintroduced for the 2020 tax year after being discontinued in 1982. The form is used to report non-employee compensation, which was previously reported on Form 1099-MISC. This change was made to help reduce confusion and improve tax compliance.

Filing 1099 forms is an important part of federal tax compliance for businesses that pay independent contractors or make other payments that are reportable on these forms. Failing to file these forms on time can result in significant penalties and interest. It’s important to work with a tax professional to ensure that you are meeting all of your federal tax obligations and filing deadlines.

Businesses that are required to pay estimated taxes must make payments on a quarterly basis. The federal deadlines for estimated taxes for businesses are:

1. April 15: Deadline for the first quarterly payment.
2. June 15: Deadline for the second quarterly payment.
3. September 15: Deadline for the third quarterly payment.
4. January 15 of the following year: Deadline for the fourth quarterly payment.

It’s important to note that these deadlines may vary slightly from year to year depending on weekends and holidays. Additionally, if a business’s fiscal year-end falls in the middle of a quarter, the estimated tax payments may need to be adjusted to reflect the income earned during that quarter.

Failure to make estimated tax payments on time can result in penalties and interest. It’s important for businesses to work with a tax professional to ensure that they are making timely and accurate estimated tax payments based on their projected income and expenses.

The federal deadlines for filing payroll taxes and Form 941 are:

1. Monthly or Semi-Weekly Depositor: If you are a monthly or semi-weekly depositor, you must deposit your payroll taxes using the Electronic Federal Tax Payment System (EFTPS) by the 15th day of the following month. For example, payroll taxes for the month of January are due on February 15th. You must also file Form 941 (Employer’s Quarterly Federal Tax Return) by the last day of the month following the end of the quarter. For example, the first quarter Form 941 is due on April 30th.
2. Annual Depositor: If you are an annual depositor, you must deposit your payroll taxes by January 31st of the following year. You must also file Form 941 by January 31st of the following year.

It’s important to note that these deadlines may vary depending on weekends and holidays, so it’s always a good idea to double-check the specific due dates with the IRS or a tax professional. Additionally, failure to file payroll taxes and Form 941 on time can result in significant penalties and interest, so it’s important to stay up-to-date on these deadlines