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Staying on top of business tax deadlines is crucial for entrepreneurs to avoid penalties and ensure compliance. This article outlines the key dates and requirements that every business owner should be aware of throughout the year.
Annual Tax Filing Deadlines
Most businesses are required to file annual tax returns with the IRS or relevant state agencies. The deadline typically falls on April 15th for calendar-year taxpayers. Extensions may be available, but they do not extend the payment deadline.
Quarterly Estimated Taxes
Entrepreneurs who expect to owe more than $1,000 in taxes must make quarterly estimated payments. These are due on the following dates:
- April 15
- June 15
- September 15
- January 15 of the following year
Payroll Tax Deadlines
Businesses with employees must deposit payroll taxes regularly. The schedule depends on the total tax amount but generally includes:
- Deposits due weekly or semi-weekly
- Form 941 filings quarterly
- Annual W-2 and W-3 submissions by January 31
Sales Tax Filing
Businesses collecting sales tax must file returns according to state-specific schedules. These can be monthly, quarterly, or annually, with deadlines typically within a few weeks after the reporting period ends.