Introduction:
Meeting business tax obligations is crucial for maintaining compliance and avoiding penalties. However, keeping track of tax deadlines and requirements can be overwhelming, especially for business owners who are already managing multiple responsibilities. An annual calendar of tax deadlines and reminders specific to Texas business owners can help ensure that you stay ahead of tax obligations. In this blog post, we will provide a calendar of important tax deadlines and reminders to help you stay compliant and avoid penalties. Discover how partnering with the COR Tax & Bookkeeping team can provide ongoing support and guidance to ensure that you remain compliant with all tax obligations.
Annual Calendar of Tax Deadlines and Reminders Specific to Texas Business Owners:
January 15th:
Estimated tax payments for the fourth quarter of the previous year are due for individuals who are self-employed, have significant income from interest, dividends, or capital gains, or participate in partnerships.
January 31st:
- The deadline for issuing W-2 forms to employees.
- The deadline for filing 1099 forms to contractors who performed services for the business in the previous year.
- The deadline for filing Form 940, the Federal Unemployment Tax Act (FUTA) return.
March 15th:
- The deadline for filing Form 1120S, S Corporation income tax return, for businesses that operate as S Corporations.
- The deadline for filing partnership tax returns for partnerships that operate on a calendar year.
April 15th:
- The deadline for filing Form 1040, individual income tax return.
- The deadline for filing a tax extension request.
- The deadline for making prior year Traditional or Roth IRA contributions for individuals.
May 15th:
The deadline for filing Form 990, tax return for tax-exempt organizations, including 501(c)(3) charities and religious organizations.
June 15th:
The deadline for making estimated tax payments for individuals who are self-employed, have significant income from interest, dividends, or capital gains, or participate in partnerships.
July 31st:
- The deadline for filing Form 941, employer’s quarterly federal tax return.
- The deadline for filing Form 5500, annual return/report of employee benefit plan.
September 15th:
- The deadline for filing Form 1120S, S Corporation income tax return, for businesses that use a fiscal year end other than December 31st.
- The deadline for filing partnership tax returns for partnerships that use a fiscal year end other than December 31st.
October 15th:
The deadline for filing Form 1040, individual income tax return, if a tax extension request was filed by the April 15th deadline.
December 31st:
The deadline for making charitable contributions that can be applied to the current year’s tax return.
Partnering with the COR Tax & Bookkeeping team can provide ongoing guidance and support to ensure that you remain compliant with all tax obligations. Our team of experienced professionals can provide assistance with:
- Accurate and timely tax preparation, utilizing the above calendar of tax deadlines and reminders to ensure compliance.
- Identifying deductions and tax credits that can help you save on taxes.
- Addressing any tax-related questions and concerns.
- Proactive tax planning and strategy development for the upcoming fiscal year.
Schedule a Consultation with COR Tax & Bookkeeping:
Staying ahead of tax obligations requires careful planning, diligent monitoring, and meticulous record-keeping. To simplify the process and ensure that you remain compliant with all tax deadlines and requirements, schedule a consultation with the COR Tax & Bookkeeping team. Our experts can provide personalized guidance and support to ensure that your business remains compliant and avoids penalties associated with missed tax obligations.
Contact us at COR Tax & Bookkeeping today to learn how we can assist your business with all its tax needs.
In conclusion, staying ahead of business tax obligations requires careful planning and close attention to key deadlines and requirements specific to Texas business owners. Utilizing an annual calendar of tax deadlines and reminders can help ensure that you remain compliant and avoid penalties associated with missed tax obligations. Partnering with the COR Tax & Bookkeeping team can provide ongoing support and guidance to ensure that your business meets all tax obligations accurately and efficiently. Take the first step towards tax compliance and success by scheduling a consultation today.