When are Quarterly Taxes Due: Dates to Circle in Red
Before you started your own business, chances are you thought of Tax Day as just April 15.
But now, there are tons of tax deadlines that require your attention. This post will help you navigate the new calendar by highlighting the most important tax dates to remember as a small-business owner.
A couple of things to keep in mind: This list is aimed toward sole-proprietors and business owners who don’t pay payroll tax and use the calendar year (as opposed to the fiscal year) as their tax year. If you own a larger or more complex business, you may be liable for more taxes. Check out the IRS’s meticulous tax calendar for more info. Remember, this post is for educational purposes only. Consult a reputable accountant (read our post about how to find someone good) for tax dates that might apply to your specific business.
|January 31, 2018||1099- MISC due to Contractors|
|February 28, 2018||1009- MISC due to IRS (for each contractor)|
|March 15, 2018||S Corporation Tax|
|April 17, 2018||Personal Income Tax|
|April 17, 2018||Quarterly Estimated Tax|
|June 15, 2018||Quarterly Estimated Tax|
|September 15, 2018||Quarterly Estimated Tax|
|January 15, 2019||Quarterly Estimated Tax|
Income tax due dates:
Income tax is generally what we think of when we think of tax. While this is the most labor-intensive tax due date, it fortunately also rolls around just once a year.
April 17, 2018: Just as it was back before you put on your small-business-owner hat, this is still the mack daddy of all sales tax due dates. If you’re a sole-proprietor or single-member LLC, then your income tax is due today. Personal income tax is also due today.
March 15, 2018: This is the tax due date for corporations and S corporations. And yes, it falls a whole month before the “usual” income tax due date. Keep in mind that you file a separate tax return for corporate tax and that your personal income tax will still be due on April 17.
Quarterly estimated tax due dates:
The United States has a pay-as-you-go income tax system. Since you don’t have an employer submitting tax on your behalf each pay period, the IRS (and mostly likely your state’s department of revenue) wants a quarterly payment from you. These are the quarterly estimated tax payment due dates for 2018:
April 17, 2018: Not only is this the income tax due date, it’s the due date for your first quarterly estimated tax payment. (Hardly seems fair, does it?) This month, you’ll pay quarterly estimated taxes on the income you made in January, February, and March 2018.
You might have noticed that Tax Day falls a little late this year. That’s because April 15, 2018 is a Sunday, and then Monday April 16 is Emancipation Day – a holiday celebrated in Washington D.C.
June 15, 2018: This is when you’ll pay quarterly estimated taxes on the income you made in April, May, and June 2018. This due date falls in the middle of June, so you’ll want to do a little extra estimating to ensure you pay the right amount for this quarter.
September 15, 2018: Quarterly estimated taxes for the months of July, August, and September 2018 are due on this date. Just as in June, these quarterly estimated taxes are due within the quarter.
January 15, 2019: Quarterly estimated taxes for the months of October, November, and December 2018 are due on this date.
Sales tax due dates:
Your sales tax due dates come down to your individual sales tax situation. States require sellers to pay at intervals — usually monthly, quarterly, or annually — and every state is different. You’ll be assigned sales tax filing due dates when you apply for your sales tax permit at your state’s department of revenue.
1099 due dates:
If you hire contractors, you may be required to send them a form 1099-MISC (here’s our explainer on this form) to report their income. This form goes to the contractor and the IRS. Some states also require you to report contractor income.
January 31, 2018: This is the date form 1099-MISC is due to contractors. This gives them a chance to confirm what you’ve paid them with their own records.
February 28, 2018: This is the date you must submit form 1099-MISC to the IRS for each contractor.
Tax extension due dates:
April 17, 2018: If you wish to file a tax extension, you must file by April 17, 2018. Fortunately, nearly every tax extension is granted with no questions asked, and you’ll have six more months to prepare your income tax paperwork and filing. Unfortunately, a tax extension doesn’t grant you an extension on time to pay. So you’ll have to estimate the amount you owe for the year and pay that by April 18, tax extension or not.
October 15, 2018: If you filed a tax extension, this is the final due date for your income tax filing.
If you have a corporation or S corporation, your due date to file an income tax extension is March 15, 2018, and your final due date to file your income tax after an extension is September 15, 2018.
Do you have employees? The IRS publishes an employer’s tax calendar with important dates. Don’t forget to check with your state’s department of revenue for any state-related tax due dates, too.
We hope this list of tax due dates helps you organize your year. Do you have any “special” tax due dates in your business? Or maybe there’s one tax due date you consistently forget and you just can’t get it right? Start the conversation on Twitter.
—Jennifer Dunn (Chief of Content at TaxJar)
TaxJar is a service that makes sales tax reporting and filing simple for more than 10,000 online sellers. Try a 30-day-free trial of TaxJar today and eliminate sales tax compliance headaches from your life!
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