2019 Small Business Tax Deadlines
“I love deadlines. I love the whooshing noise they make as they go by.” - Douglas Adams
Except with tax deadlines, because you have to pay fines for missing them.
Take a few minutes right now to review the relevant dates for your business and stay ahead of the IRS.
Estimated 4th Quarter Payment Deadline
Who’s It For?
Self-employed individuals or businesses that have opted to make quarterly tax payments. These smaller payments ensure that you pay a large percentage of your estimated tax bill during the year, instead of one big bill when your tax return is filed.
If your business is paying estimated quarterly taxes, the fourth (and final) payment for the previous year is due today.
Note: Business owners do not have to file this payment (due 1/15/19) if you file your 2018 tax return by January 31, 2019, and pay the balance owed on your return.
W-2 Filing Deadline
Who's It For?
Your business’ employees and the IRS.
If your business has employees, you must send them their W-2 for the previous year by this date. You’re required to fill out two copies of each employee’s W-2 Form. One goes to the employee, and the other goes to the IRS; both these copies must be mailed by the January 31 deadline.
Form 1099-MISC Copy A Filing Deadline
Who’s It For?
Your business’ independent contractors and the IRS
If your business worked with an independent contractor (anyone you paid over $600 to and is not an employee) during the previous year, a copy of the 1099-MISC Form must be sent to them.
The IRS covers this form in detail here. In general though if you’re filing Form 1099-MISC and reporting the amounts in Box 7, then this deadline applies to you.
Copy A of 1099 needs to be filed with the IRS by January 31st. The Copy B needs to be sent to the independent contractor no later than February 15th.
However, if you don’t have amounts in Box 7 of your 1099 Form, February 28th is the deadline for paper filing and April 1st for e-filing.
Form 1099-MISC Copy B Filing Deadline
Who’s If For?
Deadline to provide 1099s to all 1099 contractors who received payment (over $600) in the previous year.
Deadline for mailing out 1099 forms to the IRS on paper -
If you’re not required to meet the earlier 2/1/19 deadline.
If you had employees in the prior year, their W2s and W3 need to be sent into the Social Security Administration by this date. If you have a payroll service, they will most likely take care of this step for you. If you aren’t sure, check with your payroll provider.
Deadline for S-Corporation & Partnership Returns: Forms 1120S and 1065
Who’s It For?
Form 1120S: S-Corporations (S-Corp). The S-Corp’s business profits and losses are passed through to each shareholder’s tax return.
Form 1065: Partnerships. The Partnership’s business profits and losses are passed through to each partner’s tax return.
Note: S-Corporations and Partnerships don’t pay taxes on their income That part of the tax is paid on the individual incomes of the partners or shareholders.
April 15 - Tax Day
Individual Tax Returns Due
Who’s It For?
Any self-employed person, a sole proprietorship business and all personal taxes. If you’re a sole proprietor filing Schedule C on your personal returns, the April 15th deadline applies to you too. Anyone filing for anyone using forms 1040, 1040A, or 1040EZ
Estimated 1st Quarter Payment Due
If your business pays taxes quarterly, the first of the 2019 estimated quarterly tax payments is due today.
Corporation Tax Returns Due
Who’s it for?
Those businesses who are filing Form 1120. For an automatic five-month extension you must file Form 7004. However, you still must deposit, by today, the estimated taxes owed.
C-Corporations (C-Corps) are subject to double taxation. A C-Corp files a tax return and pays taxes on its profits. After-tax profits may be paid out to shareholders in dividend form. Dividends are taxed on the individual shareholder’s tax return. Resulting in the C-Corp earnings being taxed twice.
- Form 1120, US Corporation Income Tax Return
- Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, And Other Returns
Final Day For Contributions
It’s the last day to make contributions to your Roth IRA, Health Savings Account, traditional IRA, SEP-IRA, or solo 401(k) for the 2018 tax year.
Estimated 2nd Quarter Payment Due
If your business pays taxes quarterly, the second of the 2019 estimated quarterly tax payments is due today.
Estimated 3rd Quarter Payment Due
If your business pays taxes quarterly, the third of the 2019 estimated quarterly tax payments is due today.
Partnerships & S-Corps Extension Deadline
For those businesses that requested an extension to file the corporate tax returns for 2018 using Forms 1065 or 1120S today is the last day you can file.
Self-Employment & Individual Extension Deadline
For those individuals and sole proprietorship business that requested an extension, this is the last day to file your 2018 tax return for forms: 1040, 1040A, 1040EZ.
C-Corporation Extension Deadline:
For those businesses that requested an extension to file the corporate tax returns for 2018, this is the last day to file your return using Form 1120.