The tax deadlines calendar includes several important dates for individuals and businesses to be aware of. The following is a summary:
January 31: Payment deadline for employees and independent contractors. This includes filing forms such as 1099-NEC, 1099-MISC, 1099-K, W-2, and W-3.
February 1: Deadline for opting out of federal and state tax return extensions through Cleer.tax. It is recommended to file extensions due to the risk of a $25,000 penalty for missing Form 5472 foreign investment information.
February 22: Deadline for submitting financial documents for partnership and S-Corp filings through Cleer.tax.
February 28: Deadline for paper filings of forms such as 1099 and 1099-DIV.
March 1: Delaware Franchise Annual Report and Tax due, calculated based on shares issued and assets at year-end.
March 15: Deadline for filing extensions for S-Corps and Partnerships (1065 and 8805). File extensions to avoid penalties on a per-partner, per-month basis. Also, C-Corp and S-Corp elections must be filed within 75 days of the start of the tax year.
March 24: Deadline for submitting tax documents to meet the April deadline. If taxes are owed, financials must be sent to calculate taxes and prevent penalties.
March 31: eFiling deadline for most payout information returns, excluding NEC, 3921, 3922, and W-2G.
April 17: Extension deadline for filing federal and state returns. State extension can be filed upon request. Also, Q1 estimated tax payments are due.
May 31: Deadline for filing the BE-12 Foreign Investment Form for companies with 10% or greater foreign ownership. Penalties range from $2,500 to $10,000, and criminal charges may apply. The survey is conducted every 5 years.
June 1: Due date for LLC DE Franchise Annual Fee.
June 15: Q2 estimated tax payments are due.
August 25: Deadline for signing up for clean-up bookkeeping for the prior tax year through Cleer.tax.
September 15: Deadline for Q3 estimated tax payments. Also, the deadline for filing Partnership and S-Corp returns on a 6-month extension.
September 22: Cleer.tax deadline for tax document extension for the October deadline.
October 16: Final deadline for extended returns, including 1120-Corp and 1040-Single Owner LLC and Individual returns.
Penalties may apply for late filing or payment, such as a $25,000 penalty for late-filing of Form 5472, $10,000 penalties for late filing of Form 5471, FBAR, and Form 8938, as well as late-filing fees for corporate tax owed and state late filing penalties.
