Diarize These Important Business Tax Deadlines
Posted On: Monday, January 30, 2023
In 1976 The Steve Miller Band debuted their album ‘Fly Like an Eagle.’ This may, on the face of it, seem to have no relationship with paying taxes. However, the hit song on the album reminds us that ‘time keeps on slippin’ away’ – and that is an expression that every business owner and individual needs to keep in mind when planning for tax deadlines.
Being prepared for the Massachusetts and federal tax deadlines for 2023 will help avoid sometimes severe late penalties and interest.
Important Tax Due Dates for 2023
January 2023
- January 31 – Fourth quarter payroll tax due
- January 31 – Form W-2 to employees and the IRS
- January 31 – Form 1099-MISC to recipients
- January 31 – Form 1099-NEC to recipients and IRS
February 2023
- February 28 – Send Form 1098 to recipients
- February 28 – Form 1099-MISC due to IRS via paper filing
March 2023
- March 1 – MA Personal property tax return due
- March 15 – S corporation income tax return due
- March 15 – S corporation income tax return extension due
- March 15 – Partnership income tax return due
- March 15 – Partnership income tax return extension due
- March 31 – Form 1099- MISC due to IRS via e-filing
April 2023
- April 18 – Last day to make an IRA contribution
- April 18 – Individual income tax return due
- April 18 – Individual income tax return extension due
- April 18 – Trust income tax return due
- April 18 – Trust income tax return extension due
- April 18 – Corporation income tax return due
- April 18 – Corporation income tax return extension due
- April 18 – First quarter estimated tax due
May 2023
- May 1 – First quarter payroll taxes due
- May 15 – Non-profit income tax return extension due date
June 2023
- June 15 – Second quarter estimated tax due
July 2023
- July 31 – Annual return/report of employee benefit plan
- July 31 – Second quarter payroll taxes due
September 2023
- September 15 – Third quarter estimated tax due date
- September 15 – S corporation income tax return extended due
- September 15 – Partnership income tax return extended due date
- September 30 – Trust income tax return extended due date
October 2023
- October 15 – Corporation income tax return extended due date
- October 17 – Individual income tax return extended due date
- October 31 – Third quarter payroll taxes due
November 2023
November 15 – Nonprofit income tax return extended due date
Tax Preparation, Tax Planning & Legal Services For Individuals & Businesses
There are many tax deadlines that individuals and business owners should carefully keep track of for the remainder of 2023, and beyond. These include filing Form 1099-NEC in January and filing Form 1120-S – the S-corporation income tax return – in March. April 18 is the final day to make an IRA contribution and file your personal income tax returns.
If you are still losing sleep over tax deadlines, then give the team at Rakatansky CPA a call today at 508-872-0101 or fill out our easy contact form.