Key Takeaways
- Ensure you know your EIN number and your business’s entity type in order to identify your payment and filing requirements
- This article lists the dates returns are due based on your business’s use of the calendar or fiscal year
- Regardless of filing dates, most small businesses should be making quarterly tax payments
- You can choose to apply for a filing extension based on your business structure’s respective extension request due date
- Ensure you review our list of possible tax deductions for your small business
- Small businesses with employees have additionally filing and payment requirements
Most people commonly associate “tax season” with the springtime.
However, tax organization is an ongoing process requiring year-round maintenance and organization.
From making quarterly payments, to keeping your filing information organized, to knowing how your specific business is expected to file and when, it’s crucial that all small business owners are acutely aware of how they should be paying and filing their small business’s taxes.
Here is everything you as a small business owner should know about filing taxes for your business.
However, tax organization is an ongoing process requiring year-round maintenance and organization.
From making quarterly payments, to keeping your filing information organized, to knowing how your specific business is expected to file and when, it’s crucial that all small business owners are acutely aware of how they should be paying and filing their small business’s taxes.
Here is everything you as a small business owner should know about filing taxes for your business.
How To File
First, ensure that you’ve confirmed the basics of tax filing.
Find Your Employer Identification Number (EIN)
Your EIN number helps to identify your business for tax purposes at both the state and federal level. Similar to your own Social Security Number, this number is essential for operating your business.
If you’re a new business, you can apply for free and receive an EIN through the IRS.
If you’re a new business, you can apply for free and receive an EIN through the IRS.
Confirm Your Business's Entity Type
Before identifying your tax filing due dates, you need to confirm your business’s entity structure. This structure determines how and when you file your taxes.
Here are the potential structures:
Here are the potential structures:
- Sole Proprietorship- Business has one owner that takes all profits and assumes all debts.
- Partnership- Business owned by two or more individuals who share profits and debts of the business.
- Limited Liability Company (LLC)- Business is owned by any number of people, none of whom assume personal responsibility for the business’s debts.
- S Corporation- Business has shareholders (limited to 100) to whom income, deductions, and credits are passed. This entity type allows for liability protection to shareholders and avoids the federal corporate taxation of C corporations.
- C Corporation- Business has unlimited shareholders who pay taxes on their earnings in addition to the business taxes paid by the business.
Tax Filing Due Dates
While each entity structure has its own respective annual deadlines, these deadlines may be different for businesses that follow the fiscal year.
Federal returns are generally due by the fourth month of a business’s fiscal year, on the 15th day of that month. The one exception to this rule is for businesses following a fiscal year that ends June 30, as that deadline lands on September 15.
For businesses that do not follow a fiscal year, here are the tax filing deadlines and necessary documents organized by entity type:
Federal returns are generally due by the fourth month of a business’s fiscal year, on the 15th day of that month. The one exception to this rule is for businesses following a fiscal year that ends June 30, as that deadline lands on September 15.
For businesses that do not follow a fiscal year, here are the tax filing deadlines and necessary documents organized by entity type:
Sole Proprietorship
File federal income tax returns by April 15, 2026.
Documents to submit:
Documents to submit:
- Schedule C (reporting profit and loss)
- Form 1040 from your individual tax return
- If you want to request an extension, file Form 4868 before April 15. This will move your deadline to October 15, 2026
Partnership
Partnerships should file federal tax returns by March 16, 2026.
Documents to submit:
Documents to submit:
- IRS Form 1065
- If you want to request an extension, file Form 7004 before March 16. This will move your deadline to September 16, 2026
LLC
Tax deadlines for LLCs depend on the tax classification of the business.
Generally, an LLCs classification is decided by the number of owners the business has. An LLC with only one owner is, by default, taxed as a sole proprietorship, and LLCs with multiple owners are taxed as partnerships. These LLCs should follow those respective tax deadlines.
It is important to note that both a sole proprietorship and a partnership tax structure are considered “pass through entities,” meaning owners report the business’s profit and loss on their personal tax forms.
That said, an LLC can change tax classifications. An LLC can file Form 8832 to become a C corporation, or file Form 2553 to become an S Corporation. An LLC can only change its tax classification once every 60 months.
Generally, an LLCs classification is decided by the number of owners the business has. An LLC with only one owner is, by default, taxed as a sole proprietorship, and LLCs with multiple owners are taxed as partnerships. These LLCs should follow those respective tax deadlines.
It is important to note that both a sole proprietorship and a partnership tax structure are considered “pass through entities,” meaning owners report the business’s profit and loss on their personal tax forms.
That said, an LLC can change tax classifications. An LLC can file Form 8832 to become a C corporation, or file Form 2553 to become an S Corporation. An LLC can only change its tax classification once every 60 months.
C-Corporation
C Corporations must file tax returns by April 15, 2026.
Document to submit:
Document to submit:
- Form 1120
- To request a deadline extension, submit Form 7004 before April 15. This will move the deadline to October 15, 2026.
S-Corporation
S Corporations need to file tax returns by March 16, 2026.
Document to submit:
Document to submit:
- Form 1120
- To request a deadline extension, file Form 7004 before March 16. This will change the deadline to September 16, 2026
Tax Payment Due Dates
Most small businesses pay quarterly taxes based on estimated amounts owed and then filing tax returns annually.
For businesses following the regular calendar year, here are the quarterly payment due dates for the upcoming year:
For businesses following the regular calendar year, here are the quarterly payment due dates for the upcoming year:
- April 15, 2026
- June 15, 2026
- September 15, 2026
- January 15, 2027
- The 15th day of the fourth month of your fiscal year
- The 15th day of the sixth month of your fiscal year
- The 15th day of the ninth month of your fiscal year
- The 15th day of the first month after the end of your fiscal year
What Are Tax Extensions
Tax extensions allow a business to delay their federal tax filing deadline.
This does not delay the payment due date— taxes owed must still be paid by the deadline.
This does not delay the payment due date— taxes owed must still be paid by the deadline.
Tax Deductions For Small Businesses
Tax deductions are expenses you can subtract from your business’s total income when reporting your earnings on your taxes.
The IRS describes these expenses as “both ordinary and necessary,” meaning these are business-related expenses that are both typical for a business in your industry and imperative for your business’s operation.
Here are some examples of deductible expenses:
The IRS describes these expenses as “both ordinary and necessary,” meaning these are business-related expenses that are both typical for a business in your industry and imperative for your business’s operation.
Here are some examples of deductible expenses:
- Qualified sound recording production depreciation eligibility
- Office supplies and software
- Office rent or coworking rent
- Utilities (electricity, gas, water, trash)
- Internet and phone (business‑use portion)
- Repairs and maintenance
- Advertising and marketing expenses
- Employer payroll taxes
- Employee education reimbursements
- Home office deduction
- Vehicle deductions
- Business travel expenses
- Business meals (generally 50% deductible)
- Client gifts up to $25 per person
- Employer retirement plan contributions
- Charitable contributions
- Startup cost deduction (up to $5,000)
IRS Tax Payment Plans
If a business cannot afford to pay the taxes owed, the IRS offers installment plans.
Short-Term Plans
These plans allow taxes to be paid within 180 days of the payment due date. These are typically available to taxpayers owing less than $100,000 and would be able to settle their bill within 6 months.
Long-Term Plans
A long-term plan is available to taxpayers who owe less than $50,000 and need more than 6 months to pay it off. This is also considered an installment agreement, as the balance will be paid in monthly installments.
Short-Term Plans
These plans allow taxes to be paid within 180 days of the payment due date. These are typically available to taxpayers owing less than $100,000 and would be able to settle their bill within 6 months.
Long-Term Plans
A long-term plan is available to taxpayers who owe less than $50,000 and need more than 6 months to pay it off. This is also considered an installment agreement, as the balance will be paid in monthly installments.
How Do Businesses With Employees File Taxes
Small businesses with employees need to file employment tax in addition to their income tax returns.
Here are required employment tax forms and their respective deadlines:
Form 940: This form reports Federal Unemployment Tax Act (FUTA) taxes
FICA Deposits: These fees withheld from employee compensation for Medicare and Social Security are reported with Form 941 once per quarter.
Form W-2: These forms are wage and tax statements for employees. W-2 forms should be filed and distributed to employees by January 31st each year.
Form 1099: These forms report any wages totaling over $600 paid to non-employees throughout the year, such as freelance contributors. 1099 forms must be filed and sent to non-employees by January 31st each year.
Here are required employment tax forms and their respective deadlines:
Form 940: This form reports Federal Unemployment Tax Act (FUTA) taxes
- If your business’s tax liability is more than $500 for the calendar year: Make one quarterly payment by the last day of the month after the end of each quarter
- If your business’s tax liability is $500 or less for the calendar year: Deposit the amount owed or file Form 940 and pay by January 31
- If your business’s tax liability is $500 or less in a quarter: Carry it forward until your cumulative FUTA tax liability is over $500
- April 30, 2026
- July 31, 2026
- November 2, 2026
- February 1, 2027
FICA Deposits: These fees withheld from employee compensation for Medicare and Social Security are reported with Form 941 once per quarter.
Form W-2: These forms are wage and tax statements for employees. W-2 forms should be filed and distributed to employees by January 31st each year.
Form 1099: These forms report any wages totaling over $600 paid to non-employees throughout the year, such as freelance contributors. 1099 forms must be filed and sent to non-employees by January 31st each year.
Stay Organized
Once you have collected all the necessary documentation for your business’s tax filing, keep it organized! This will help you with your bookkeeping, stay in compliance, and apply for small business funding.
Tax season is an especially opportune time to apply for funding while you have all your documents organized and prepared.
At NEWITY, our team facilitates loans 3x faster than the national average, and when members are organized and prepared, this process is even quicker.
Tax season is an especially opportune time to apply for funding while you have all your documents organized and prepared.
At NEWITY, our team facilitates loans 3x faster than the national average, and when members are organized and prepared, this process is even quicker.
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