What Are the 2024 Due Dates for Filing Taxes for Small Business Owners?

What Are the 2024 Due Dates for Filing Taxes for Small Business Owners?

What Are the 2024 Due Dates for Filing Taxes for Small Business Owners? 150 150

When is the Deadline to File Your 2023 Taxes? And Make Quarterly Payments in 2024? Request an Extension?

This article will cover everything you need to know. Many tax deadlines are fast approaching. This article will cover key dates small business owners need to know to file their 2023 taxes, make quarterly payments during 2024, and/or request an extension for filing.

Last Day to File Your 2023 Taxes or Request an Extension

The last day to file your 2023 federal and state taxes is April 15, 2024. That’s also the last day you can request an extension for filing taxes. If you need an extension, submit Form 4868 by this date. This is also the deadline for individuals to make IRA and HSA contributions for 2023.

If you request an extension for filing your federal taxes, you must file them by October 15, 2024.

State Tax Extensions

While the IRS requires you to file Form 4868 in order to request a tax extension, each state has its own requirements for obtaining a similar extension. Some states, such as Wisconsin, Alabama, and California, offer automatic extensions to all taxpayers, while other states require you to file a specific form by the original due date of the return. Reach out to your state tax authority to confirm which steps you will need to follow.

What If I Owe Money but Requested an Extension?

An extension of time to file your return does not grant you any extension of time to pay your taxes. You should estimate and pay any owed taxes by your regular deadline to help avoid possible penalties, such as interest due on the payment amount.

Important Dates for Quarterly Tax Payments

The 4th Quarter 2023 Estimated Tax Payment was due January 16, 2024.

For anyone self-employed or who has other income without any tax withholding, and makes quarterly estimated tax payments, this is the final due date to submit a quarterly payment for the 2023 tax year. It covers the time period from September 1 through December 31, 2023

Here are the dates for 2024 estimated quarterly payments:

April 15, 2024 – for the period January 1 through March 31

June 17, 2024 – for the period April 1 through May 31

September 16, 2024 – for the period June 1 through August 31

January 16, 2025 – for the period September 1 through December 31, 2024

Tax Deadlines for Various Business Types

Partnerships, multi-member LLCs and S Corps

Partnerships, multi-member LLCs, and S-Corporations must file Form 1065 or 1120S by March 15th, 2024, if their business is based on a calendar year. If a fiscal year is used, the tax return should be submitted by the 15th of the third month after the end of the tax year. Whichever date is used, that will be the same deadline date for requesting an extension (IRS Form 7004).

For C-Corporations

Corporations must complete and file Form 1120 to calculate the income subject to the flat corporate rate (21%). When taxes are due depends on whether the corporation follows a fiscal year or a calendar year.

For a C Corp that follows a calendar year, the due date for Form 1120 is April 15th, 2024.

For a C Corp that follows a fiscal year, Form 1120 must be filed by the 15th day of the fourth month following the last day of their tax year. In other words, for a fiscal year ending May 31, the form 1120 is due by September 15.

Whether a C Corp uses the calendar year or a fiscal year, the corporation can request a 6-month extension (IRS Form 7004). The extension request must be filed by the original tax filing deadline.

Important 2024 Dates

DateDescription

Jan 31, 2024Employers Must Send W-2 Forms to Employees

Jan 31, 2024Certain 1099 Forms Are Sent

Mar 15, 2024Taxes Due for Partnerships, Multi-Member LLCs, and S-Corps

Apr 15, 2024Tax Day, Deadlines to File Federal Income Tax Return and Request Extension

Apr 15, 2024First Quarter 2023 Estimated Tax Payments and Calendar Year C-Corporation Taxes Due

Jun 17, 2024Second Quarter 2023 Estimated Tax Payment Due

Sep 16, 2024Third Quarter 2023 Estimated Tax Payment Due and Deadline for Fiscal Year C-Corps

Oct 15, 2024Deadline to File Extended 2022 Tax Returns

Jan 15, 2025Fourth Quarter 2024 Estimated Tax Payment Due

Things to Do Before a Tax Deadline

As the tax deadline approaches, there are a few key things you can do to prepare and ensure a stress-free filing process. Here are five things to do before the tax deadline:

Gather your documents and records. Collect all the needed documentation, including W-2 forms, 1099s, receipts, and other relevant records. Having everything in one place will make it easier to prepare your return.
Review the tax code for changes. There may have been changes to the tax code since you last filed, so it’s important to review any updates that could impact your return.
Choose the right filing status. There are different filing statuses available, so make sure to choose the one that best applies to your situation. This can affect your tax liability and refund amount.
Calculate your deductions and credits. There are many deductions and credits available that can lower your tax bill. Take the time to calculate which ones you’re eligible for so you can maximize your savings.
File electronically for a faster refund. Filing electronically is the quickest way to get your refund, so be sure to take advantage of this option if you’re expecting a refund from the IRS.

报税资源

Tax filing can be a daunting task, especially when dealing with changing rules and regulations. Thankfully, there are a variety of resources available to help make the process simpler and less stressful. Let’s take a look at some tax filing resources that are invaluable in helping you stay informed and equipped to make the right decisions concerning your taxes.

报税服务

If you’re not confident about your ability to file taxes on your own, you may want to consider using a professional 报税服务. These services provide knowledgeable and experienced staff to help you understand the complexities of filing taxes and make sure your return is done accurately.

Sole Proprietors and the Standard Deduction

Taking the standard deduction can be a great way to reduce your taxable income. Sole proprietors should add up all their possible deductions, such as utilities, mileage, advertising costs, etc., to see if that total is more or less than the standard deduction.

The standard deduction amounts for 2024 are as follows:

Married couples filing jointly: $29,200

Single taxpayers and married individuals filing separately: $14,600

Heads of households: $21,9002.

For taxpayers aged 65 and older, the additional standard deduction for 2024 is $1,550 (or $1,950 if unmarried and not a surviving spouse). Eligible taxpayers can add this extra deduction to their regular standard deduction for their filing status.

免费税务咨询

如果您不确定报税的某些方面,通常可以从注册会计师或其他合格专业人士那里获得免费建议。也有 IRS 赞助的项目提供免费的税务建议。寻找很重要 像这样的可靠信息来源 在报税方面,您可以做出正确的决定。

所得税税级

了解当前 所得税等级 在报税方面可以成为一个有价值的工具。请务必注意这些括号,以便您可以准确计算您的纳税义务并确保您获得尽可能最好的交易。

适合自雇人士的最佳税务软件

Researching the 适合自雇人士的最佳税务软件 is a great way to make sure you’re getting the most out of your filing process. Different software programs offer a variety of features and tools to help you maximize your tax savings.

如何申报自雇税

申报自雇税可能是一个复杂的过程。了解规章制度很重要,这样您才能学习 如何申报自雇税 准时准确。确保研究如何作为个体经营者报税,以便您可以充分利用您的扣除额和抵免额。

家庭办公室扣除

对于经常在家工作的人,可以享受多种减免。了解如何正确计算这些扣除额非常重要,这样您才能最大限度地节省开支。这是一个指南 内政部扣除的最后一分钟税务建议.

国税局免费文件

国税局免费文件,您可以在指导报税软件的帮助下轻松安全地准备和提交联邦个人所得税申报表。该过程完全免费、方便、安全,您不必担心任何隐藏费用。

如果您错过纳税期限会怎样?

如果你 错过纳税期限,您可能会受到罚款和利息费用。国税局也可能会扣押您的工资或没收您的财产以清偿未付的税款。为避免这些后果,请务必尽快提交您的申报表并支付任何必要的款项。

If you are owed a refund, there is no penalty for filing your federal tax return late. However, if you failed to file and owe taxes, you should file a return as soon as possible and pay as much of the tax owed as possible to reduce penalties and interest. The IRS will process your return and send your tax refund once they have received it.

What if I owe more than I can pay?

If you owe more taxes than you can pay, the situation may seem overwhelming, but it’s essential not to ignore the situation. The IRS offers various solutions to help taxpayers who can’t afford the tax they owe. Keep in mind, though, that while the IRS does provide these options, you may still be subject to interest and penalties. Here’s more detailed information:

Installment Agreement: This is a payment plan where you can make monthly payments towards your tax debt. To use this option, you must file all required tax returns. There are different types of installment agreements, such as guaranteed installment agreements, streamlined installment agreements, and non-streamlined installment agreements.

Offer in Compromise: This is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. This is generally an option when payment in full will create financial hardship.

Temporarily Delay the Collection Process: If you’re facing significant financial hardship, the IRS may temporarily delay collection until your financial condition improves. But remember, the tax debt usually increases because penalties and interest are charged until you pay the full amount.

Filing an Extension: If you need more time to pay, you can apply for an additional 120 to 180 days to pay your account in full with the “Full Payment” agreement. No setup fee is required, but the late payment penalty and interest will continue to add up until the account is fully paid.

Using a Credit Card or a Loan: If possible, paying your tax liability in full with a credit card or a loan may reduce the amount of interest and penalties you’ll pay the IRS.

Here are the potential consequences of owing taxes:

Interest: Generally, interest starts accruing from the due date of the return until the entire amount is paid in full.

Late payment penalty: The penalty is usually 0.5% of the tax owed for each month, or part of a month, that your tax remains unpaid after the due date, up to 25%.

Tax lien: The IRS may file a federal tax lien to protect its claim against your assets.

Levy: If you don’t arrange to pay, the IRS has the right to levy, seize, and sell any type of personal or real property that you own or have an interest in.

If you find yourself unable to pay the taxes you owe, it’s crucial to take immediate action. Consult with a tax professional to understand your options and choose the best course of action based on your financial situation.

常问问题

提交纳税申报表的最快方式是什么?

电子申请是接收退款的最快和最安全的方式。与纸质退货相比,处理电子退货仅需 24 小时。即使您提交纸质退货,您仍然可以选择直接存款作为您的退款方式。

如果我住在受自然灾害影响的地区,我的纳税期限会怎样?

如果您居住在受飓风或地震等自然灾害影响的地区,美国国税局可能会给予您额外的时间来提交纳税申报表和付款。如需更多信息,请访问 IRS 网站或联系您当地的 IRS 办公室。

如果我犯了错误并需要重新报税怎么办?

要更改您现有的纳税申报表,请使用 1040-X 表格(修正的美国个人所得税申报表)并按照随附的说明进行操作。如果您之前报告了错误的申报状态、受抚养人、总收入、扣除额或抵免额,则可能需要修改您的申报表。请务必在提交前仔细检查修改后的表格上的所有信息,以确保准确性。

When are the state income taxes due in 2024?

The deadline to file your federal income taxes is April 15, 2024, and most states usually have their tax deadlines following the same calendar. It’s likely that your state income tax return will also be due on this date, but it’s important to check with your state government website for specific filing requirements.

What is the tax extension deadline for the 2023 tax year?

April 15, 2024, is the deadline to submit Form 4868 and request an extension on your federal taxes. If you are unable to file by this date, filing for an extension will give you until October 15, 2024, to complete and submit your tax return.

When can you file taxes for 2023 in 2024?

The IRS will typically start accepting tax returns at the end of January, with an official announcement coming sometime in the middle of the month.

报税季什么时候开始?

报税季通常在每年一月的最后一周开始。在此期间向美国国税局报税并申请任何适用的抵免额或应得的退款非常重要。如果您需要更多时间,可以最迟在纳税日之前提交 4868 表格申请延期,而不会受到处罚。

纳税日是什么时候?

Tax Day for the 2023 tax year falls on April 15th, 2024. This deadline applies to any individual or small business seeking to file their taxes with the IRS. If you need an extension, make sure to file Form 4868 no later than tax day. Failing to do so will result in hefty fines and penalties by the IRS.

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