Tax season is underway and navigating this stressful time is never easy – especially for business owners. You’re pulling together your financial information, making calculations, and filling out form after form, all while continuing to run your business as usual. With so many tasks to juggle, it’s easy for tax deadlines to slip your mind.
Set your business up for success during tax season by reviewing NEWITY’s tax due dates and filing the deadline guide. Be sure to mark them on your calendar!
C Corporations
Tax Return Due Dates
Original due date or 6-month extension form due (for calendar year C-Corporations) – 4/18/2022
If your return requires a payment, it is due by the tax return’s original due date. This is necessary to avoid any additional late payment penalties and interest.
Extended due date of Form 1120 – 10/17/2022
Estimated Tax Due Dates
S-Corporations
Tax Return Due Dates
Original due date or 6-month extension – 3/15/2022 (PAST DUE)
If you missed this deadline to file, here are some suggestions on how best to proceed:
- File as soon as possible – the IRS’ “failure to file” penalty is 5% of tax due for each month that a return is late.
- If a return is filed more than 60 days late, the minimum penalty is either $210 or 100% of the tax due.
- There is no penalty for filing after the due date if your business is due a refund.
- In some instances, a taxpayer filing after the deadline may qualify for penalty relief if there is a good reason for doing so. Please attach an explanation to your return if this is the case.
- Alternatively, taxpayers who have a history of filing and paying on time often qualify for penalty relief. For more information, see the first-time penalty abatement page on IRS.gov.
Extended due date of Form 1120-S – 9/15/2022
Estimated Tax Due Dates
No estimated tax payments required for federal purposes.
Tax Exempt Organizations
Tax Return Due Dates
Original due date or 6-month extension (for calendar year Organizations) – 5/16/2022
If your return requires a payment, it is due by the tax return’s original due date. This is necessary to avoid any additional late payment penalties and interest.
Extended due date of Form 990-T – 11/15/2022
Individuals
Tax Return Due Dates
Original due date or 6-month extension – 4/18/2022
If your return requires a payment, it is due by the tax return’s original due date. This is necessary to avoid any additional late payment penalties and interest.
Extended due date of Form 1040 – 10/15/2022
Estimated Tax Due Dates
Partnerships
Tax Return Due Dates
Original due date or 6-month extension – 3/15/2022 (PAST DUE)
If you missed this deadline to file, here are some suggestions on how best to proceed:
- File as soon as possible – the IRS’ “failure to file” penalty is 5% of tax due for each month that a return is late.
- If a return is filed more than 60 days late, the minimum penalty is either $210 or 100% of the tax due.
- There is no penalty for filing after the due date if your business is due a refund.
- In some instances, a taxpayer filing after the deadline may qualify for penalty relief if there is a good reason for doing so. Please attach an explanation to your return if this is the case.
- Alternatively, taxpayers who have a history of filing and paying on time often qualify for penalty relief. For more information, see the first-time penalty abatement page on IRS.gov.
Extended due date of Form 1065 – 9/15/2022
Estimated Tax Due Dates
No estimated tax payments required for federal purposes.
