Staying on Top of Tax Deadlines

Tax deadlines are often stressful, but they don’t have to be. Having a handy guide going into the new year can make or break a businesses financial success. Keep reading for some helpful tips and important dates to pay attention to this tax season.

In January and February, payments for employees and independent contractors are dealt with. Forms like the W-2 and W-3 become important, and it is at this time that extensions are recommended. Paper filings are also due at the close of the second month. The month of March deals with paperwork for S-corps and partnerships. It is at this time that any extensions are due. Forms like 1065s or 8805s for partnerships, or 1120s or 1042s for S-corps and corporations are also dealt with at this point.

April 18 is tax day! On this date, quarter 1 estimated tax payments are due. This means that corporations are required to pay estimated taxes on their first year of being profitable. In May, the BE-12, or the foreign investment form is dealt with, and in June, quarter 2 estimated tax payments are due. Quarter 3 sneaks up in the middle of September, and all extended returns are due in the middle of October. 
Taxpayers finish up the year on December 16, when quarter 4 estimated tax payments are due. The year is chock full of important tax deadlines, making it imperative that all affected stay on top of their calendars. It is recommended that taxpayers take advantage of these helpful guides; They are all around, and easily accessible.

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