Tax Deadlines Year End Checklists
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Frequently Asked Questions
What happens if I file late?
Failure to file penalties accrue at a substantially higher rate than failure to pay penalties, so filing on time matters even when you cannot pay in full. Pass-through entities face per-partner or per-shareholder monthly penalties that accumulate quickly.
When are business tax returns due?
Partnership and S corporation returns are generally due the fifteenth day of the third month after year end, and C corporation and individual returns the fifteenth day of the fourth month, with six-month extensions available. An extension extends the filing deadline, not the payment deadline.
Do I need to make estimated tax payments?
Generally yes if you expect to owe $1,000 or more. Safe harbor is met by paying 90% of the current year's tax or 100% of the prior year's, rising to 110% for higher-income taxpayers, which avoids underpayment penalties regardless of how the year turns out.
Who needs to receive a Form 1099?
Generally non-employee service providers paid $600 or more during the year who are not corporations, with exceptions including attorneys. Collecting a Form W-9 before the first payment is the practical way to avoid a scramble in January.