Tax season is upon us, and it can be daunting as a business owner. But it doesn’t have to be. If you’re operating a business in Indiana, Edgewater CPA Group will walk you through all the important tax deadlines business owners should know.
1. January 31: 1099 and W-2 Filing Deadline
The deadline to file 1099 and W-2 forms with the IRS and Social Security Administration is January 31. This deadline applies to all businesses that have employees or contractors, and failure to file can result in penalties.
2. March 15: S Corporation Tax Deadline
If you operate as an S corporation, your tax deadline is March 15. This is the deadline to file your business tax return (Form 1120S) and distribute K-1 forms to shareholders. It’s important to note that this deadline also applies to partnerships, LLCs, and LLPs elected to be taxed as an S corporation.
3. April 15: Individual Tax Deadline
April 15 is the deadline for filing personal income tax returns (Form 1040) with the IRS. This deadline also applies to sole proprietorships, LLCs, partnerships, and corporations that have not elected to be taxed as an S corporation.
4. April 15: C Corporation Tax Deadline
C corporations have until April 15 to file their business tax returns (Form 1120) with the IRS. This deadline also applies to LLCs elected to be taxed as a C corporation.
5. September 15: Partnership Tax Deadline
If your business operates as a partnership (including LLCs taxed as partnerships), your tax deadline is September 15. This is the deadline to file your business tax return (Form 1065) and distribute K-1 forms to partners.
Stay Ahead of Your Tax Deadlines
As you can see, there are several tax deadlines business owners should know. By staying organized and on top of these dates, you can avoid penalties and ensure you meet your tax obligations. Need help with all your filings? Turn to Edgewater CPA Group in Carmel, IN. We proudly serve business owners, helping them with their tax filings, controller duties, and growth projections. Schedule your consultation with our team today at (317) 386-7021.