42589521 - ask the expertsWhen you’re operating a business, your tax deadlines vary, depending on whether you’re a sole proprietor, corporation or partnership. There’s a fair amount to keep track of, from paying quarterly taxes and filing your tax return, to mailing out forms, notices and information. Here’s a roll-up of quarterly tax deadlines and a few key dates and reminders you can put on your calendar now.

Quarterly taxes are due on the following dates:

  • January 1 – March 31: April 15
  • April 1 – May 31: June 15
  • June 1 – August 31: September 15
  • September 1 – December 31: January 15 of the following year

Important reminders about these dates:

  • If the 15th falls on a Saturday, Sunday or holiday, your payment is due on the following business day.
  • If you mail your payment by regular mail, your payment is considered on time if it’s postmarked on or before the due date.
  • If you miss the 15th, you will incur a penalty in the form of a late fee.
  • You can pay by credit or debit card, which gives you until midnight on the due date, or via IRS Direct Pay, which gives you until 8:00 p.m. Eastern time.

Mailing forms and tax returns:

  • January 31: Deadline for sending out 1099s to individual contractors and W2s to employees.
  • February 28: Deadline for mailing paper copies of 1099s to the IRS (if you’re filing your 1099s electronically, you have until March 31).
  • March 15: Deadline for business partnerships and corporations to file tax returns. This is the same deadline to file for an extension. Note that if you are filing for an extension, you must pay any tax due at this time as well.
  • April 15: Deadline for sole proprietors to file tax returns.
  • August 15: Deadline for partnerships that filed for an extension to file tax returns.
  • September 15: Deadline for corporations that filed for an extension to file tax returns.
  • October 15: Deadline for sole proprietors who filed for an extension to file tax returns.

Keeping track of when to pay quarterly taxes, mail forms and file your tax return doesn’t have to be a headache or a hardship, but it is important to keep these important dates on your calendar so you don’t miss any deadlines, which can result in late fees or penalties.

Of course, the first (and best) thing you can do is give us a call to find out how one of our tax lawyers can assist you. We’ll help you understand everything you need so you’re fully prepared. Until then, put these important dates on your calendar, and enjoy the freedom and benefits that come from running your own business!