- A few important business tax-filing deadlines are on the horizon. If you’re a freelancer or sole proprietor, September 15, 2021 is your third-quarter estimated tax payment deadline. September 15, 2021 is also the extended tax-filing deadline for S Corporations, partnerships, and multi-owner LLCs.
What is the business tax filing deadline for 2021?
Companies have until April 15, 2021 to submit corporate tax returns for income received in 2020. Businesses may use Form 1120 or request a six-month extension by filing Form 7004 and submitting a deposit for the amount of estimated tax owed.
What is the due date for business taxes?
Therefore, the due date is the 15th day of the fourth month following the end of the tax year. This is generally April 15 for calendar year taxpayers. Refer to IR-2021-59 for extension information. Most partnerships use the calendar year.
What are the tax deadlines for 2021?
Due to the COVID-19 pandemic, the federal government extended this year’s federal income tax filing deadline from April 15, 2021, to May 17, 2021.
Is Tax Deadline extended again in 2021?
In response to the Coronavirus (COVID-19) pandemic, the Treasury and IRS issued new guidance that calls for a tax deadline extension, moving the customary April 15 deadline to May 17, 2021.
Are business taxes extended 2021?
Sole proprietorships and single-owner LLCs must apply for an extension by May 17, 2021, which extends their tax-filing deadline to October 15, 2021. Partnerships and S Corporations must apply by March 15, 2021, which extends their tax-filing deadline to September 15, 2021.
What tax form is due in April?
April 15, 2021: Deadline for household employers who paid $2,200 or more in wages in 2020 to file Schedule H for Form 1040 11. April 15, 2021: Deadline for first quarter estimated tax payments for the 2021 tax year.
What is the business tax extension deadline for 2020?
The Treasury Department and the Internal Revenue Service are providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns has been extended from April 15 to July 15, 2020.
What is the due date for an LLC tax return?
If you select a fiscal year, then your taxes are due on the 15th day of the fourth month after your year ends. So, if your business year ends March 30, your taxes are due July 15. If you are an S corporation, you must use a calendar year and your taxes are due on March 15.
What is the tax extension deadline for 2020?
The tax extension deadline for 2020 returns is approaching, but there’s still time to avoid extra penalties and fees. Filers have until Oct. 15 to submit their extended return, originally due on May 17. Those who filed for an extension can skip late penalties by sending in their return by Oct.
How do I file a tax extension for 2021?
To request an extension to file your federal taxes after May 17, 2021, print and mail Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. We can’t process extension requests filed electronically after May 17, 2021. Find out where to mail your form.
What happens if you miss your tax deadline 2021?
You’ll likely end up owing a late payment penalty of 0.5% per month, or fraction thereof, until the tax is paid. The maximum late payment penalty is 25% of the amount due. You’ll also likely owe interest on whatever amount you didn’t pay by the filing deadline.
Why do I owe taxes this year 2021?
Job Changes. If you’ve moved to a new job, what you wrote in your Form W-4 might account for a higher tax bill. This form can change the amount of tax being withheld on each paycheck. If you opt for less tax withholding, you might end up with a bigger bill owed to the government when tax season rolls around again.
When can I file my 2021 taxes in 2022?
IRS will start accepting income tax returns on Jan. 31, 2022. * = IRS may delay start of tax season by a week or so. ** = Returns with EITC or CTC may have refunds delayed until March to verify credits.