In 2022, the tax deadlines were slightly different than in the past. The way dates fell on the calendar was part of the reason, but the IRS also made some additional adjustments. Important deadlines are already announced for 2023, and once again, the IRS has included some small changes that mirror 2022.
Estimated Tax Payment Deadlines
Estimated tax payments are normal expectations for most businesses. According to the IRS, “Sole proprietors, partners, and S corporation shareholders, generally have to make estimated tax payments if they expect to owe tax of $1,000 or more when their return is filed. Corporations generally have to make estimated tax payments if they expect to owe tax of $500 or more when their return is filed.”
If your business is required to make estimated tax payments in 2023, the deadlines are:
- January 17, 2023 – 4th quarter 2022 estimated tax payment due
- April 18, 2023 – 1st quarter 2023 estimated tax payment due
- June 15, 2023 – 2nd quarter 2023 estimated tax payment due
- September 15, 2023 – 3rd quarter 2023 estimated tax payment due
Annual Tax Return Deadline
Depending on the type of business you have, the deadline for your annual return can be different. For C corporations, LLCs taxed as a C corporation, and sole proprietors, the 2022 annual tax return is due on April 18, 2023 (Tax Day 2023). If your business requests an extension, the deadline is October 16, 2023.
For other business types, including partnerships, LLCs taxed as a partnership, and S corporations, the deadline for the 2022 annual tax return is March 15, 2023. The extension deadline for these business types is September 15, 2023.
If You Have Employees or Independent Contractors
If your business has employees or independent contractors, you’re required to submit W2 forms (for employees) or 1099 NEC/1099 MISC forms (for independent contractors). The deadline for both forms (for work done in 2022) is January 31, 2023.
Morgan & Associates Can Help You with Tax Deadlines
If these dates seem overwhelming or you simply want someone in your corner to keep you on track, Morgan & Associates is here. We have the expertise and experience to ensure your business meets its tax deadlines.