2023 Corporate Tax Calendar

Essential Dates and Deadlines for Businesses

Navigating the corporate tax landscape can be daunting, especially for business owners already juggling multiple responsibilities. Whether trying to expand your enterprise or streamline operations, you must know your tax obligations. Different business structures, such as LLCs and S corporations, have their own tax rules and deadlines. To make things a bit easier, here’s a simplified tax calendar for businesses for the year 2023:

January 2023

• 17th: Deadline for the fourth quarter of 2022 estimated tax payments, specifically for S corporations.
• 31st: Deadline for submitting Form 1099-NEC for non-employee compensation to the IRS. Also, contractors should have received their copies by this date. Additionally, employers must send their employees W-2 forms for the 2022 tax year.

March 2023

• 1st: Farmers and fishermen, take note! Suppose you missed out on your estimated tax payments in 2022. In that case, you must file your income tax return and pay any outstanding taxes by this date to avoid penalties.
• 15th: S corporations and partnerships operating on a calendar year must file tax returns. This date is also the last opportunity to request an extension for these entities.

April 2023

• 18th: The first quarter of 2023 estimated tax payments are due. Sole proprietors and single-member LLCs must file their tax returns using Schedule C. Individuals should also submit their income tax returns (Form 1040) and finalize their retirement contributions. If you have foreign bank accounts, don’t forget to file the Report of Foreign Bank and Financial Accounts (FBAR, Form 8938).

June 2023

• 15th: Deadline for the second quarter of 2023 estimated tax payments.

September 2023

• 15th: Third quarter of 2023, estimated tax payments are due.

October 2023

• 16th: Extended deadline for sole proprietors and single-member LLCs to file tax returns.

Additionally, if you plan to contact the IRS, remember they’ll be unavailable on certain holidays, such as December 25th (Christmas Day).

It’s essential to understand that while this calendar provides a general overview, it might not encompass all your specific tax obligations. Always consult with a tax professional to ensure you meet all your requirements and get tailored advice for your business scenario.