Being on track and prepared for the new tax year will spare you the trouble of any last-minute hassle to meet the deadlines.
Tax due dates are determined for every specific type of business entity or corporation. The extensions - if any - may be filled only once and strictly within the IRS-determined due dates.
Figure out your personal business tax schedule with the following rules and tax deadline list for 2018.
First Quarter Tax Payments - January, February, and March
January 31, 2018 - Give an annual information statement to the recipients of certain payments you made during 2017 with the appropriate version of Form 1099. These payments include fish bought from fishermen, compensation for non-employees, interest, royalties, rent and retirement plan distributions among other things.
File Form 1099-MISC for nonemployee compensation paid in 2017.
February 15, 2018 – Give an annual information statement to the recipients of certain payments you made during 2017 with the appropriate version of Form 1099. These payments include all payments reported on Form 1099, 1099-S and in boxes 8 and 14 of Form 1099-MISC.
February 28, 2018 – This is the paper deadline for submitting all copies of Form 1099-MISC issued to self-employed contractors along with the accompanying Form 1096 which summarizes the Form 1099.
File Form 7004 to request an automatic 6-month extension of time to file any of the returns above, shifting the date to September 17, 2018.
File Form 2553 to elect to be treated as an S corporation beginning with 2018. S Corporation treatment will start in 2019 if the form is filed late.
Foreign trusts with U.S.-based owners must file Form 3520-A to provide information about the trust and its beneficiaries.
Second Quarter Tax Payments - April, May, and June
April 15, 2018 – File Form 1041 to report all income, gains, losses, deductions, and credits from the operation of a trust or an estate.
This due date also applies to filing the Foreign Bank and Financial Accounts Report - FinCEN Report 114 - used to report financial interest in or signature authority over foreign financial accounts and replaces the now obsolete Form TD F 90-22.1.
April 17, 2018 – Corporations must file a 2017 calendar year income tax return via Form 1120 and deposit the first of four instalments of estimated income tax for 2018. Tax amounts can be estimated with Form 1120-W.
This is also the tax day for individual tax returns.
May 15, 2018 – Most nonprofits, except churches and church-related organizations, must file one of the 990-series forms each year.
If an organization has gross receipts of $50,000 or less, it must submit Form 990-N.
Companies file Form 990-EZ if gross receipts are lower than $200,000 and total assets exceed $500,000.
Form 990-PF is filed by private foundations.
June 15, 2018 – Corporations must estimate their tax for the year with Form 1120-W and deposit the second instalment of estimated income tax for 2018.
Third Quarter - July, August, and September
September 17, 2018 – Extended due dates for Partnerships, S Corporations and Electing large partnerships 2017 income tax returns if the taxpayer filled and submitted Form 7004 by March 15, 2018.
Corporations must estimate their tax for the year with Form 1120-W and deposit the third instalment of estimated income tax for 2018.
This is the extended deadline for foreign trusts with a U.S.-based owner to file and submit Form 3520-A.
September 30, 2018 – This is the extended deadline to report all income, gains, losses, deductions, and credits from the operation of a trust or an estate via Form 1041.
Fourth Quarter - October, November, and December.
October 15, 2018 - The extended Corporation 2017 calendar year income tax return due date per IRS Form 7004 Instructions and IRS website.
This is also the extended deadline for filing FinCEN Report 114, Foreign Bank and Financial Accounts Report.
November 15, 2018 – Extended deadline given to nonprofit organizations to file any of the 990-series forms.
December 17, 2018 – Corporations must estimate their fourth and final instalment of estimated income tax for 2018. The amounts are estimated via Form 1120-W.
Employer Taxes Deadlines And Due Dates
Are you an employer? It's crucial to know whether the people who work for you are your employees or self-employed. This affects certain payments and deductions you are legally obligated to make.
Figure out your tax responsibilities and build a simple structured calendar for any applicable tax returns via our tax deadline schedule for employers.