Important 2023 Tax Dates for Business OwnersNov 18, 2022
As a business owner, it is important to stay on top of your taxes and make sure you are compliant with all the relevant deadlines. In 2023, there are several important tax dates that you need to keep in mind. This blog post will list the key Federal deadlines, along with some brief explanations of what each deadline entails. Make sure you mark these dates on your calendar, and get started on preparing your tax returns well ahead of time!
January 16: Estimated individual income taxes for Q4 2022 are due.
January 31: 1099s must be filed for your contractors and vendors, including those to whom rent, royalties and other miscellaneous income was paid. W-2s must also be filed. This is also the deadline for payroll tax returns (Form 941) for Q4 2022. Form 940 , the annual Federal Unemployment Tax Return, is also due on this date. Note that if you have a payroll service like Gusto, they take care of many of these payroll tax filings for you.
March 15: This is the deadline for S corporations to file their annual tax return (Form 1120S) and pay any taxes that are owed. It is also the deadline for partnerships to file their annual tax return (Form 1065). No tax is due with these returns, but you will need the K-1s from them to do your individual taxes.
April 17: The deadline for filing individual federal income tax returns (Form 1040) and C Corporation income tax returns (Form 1120). This is also the deadline for making any Q1 estimated tax payments for 2023.
June 15: Estimated individual income taxes for Q2 2023 are due.
September 15: Estimated individual income taxes for Q3 2023 are due. This is also the extended deadline for partnership and S Corporation tax returns that were extended.
October 16: This is the extended deadline for individuals and C Corporations to file their 2022 income tax returns.
Keep in mind that these are only the Federal deadlines. Each state has their own tax deadlines and requirements, so be sure to check with your state's tax agency for more information. You also want to stay on top of your annual reports and entity renewals.
Want reminders when these dates are coming up? Text me the word TAXDATES to 860-609-6374 and you will get reminders sent to your phone.