For most businesses, the due date for filings 2021 tax returns was April 18, 2022.
Sole Proprietorships
A sole proprietorship business is an extension of the individual taxpayer who owns and runs it. Its year-end is December 31, and the tax return due date is the same as the individual’s—normally April 15, except it was April 18 in 2022. Sole proprietors file Schedule C with their personal tax returns to arrive at their net taxable business incomes.
Single-Member LLCs
As the name suggests, a single-member LLC is an LLC with only one owner. It’s taxed like a sole proprietorship, using Schedule C to calculate net income. The tax returns are normally due along with the owner’s personal tax return, and taxes are payable on April 15 for the prior year, but 2021 returns were due on April 18, 2022.
Partnerships
A partnership’s return is an information return on Form 1065. Any tax owed is reported on the individual partner’s tax return. Form 1065 is due on the 15th day of the third month after the end of the partnership’s tax year, so the partnership return due date is normally March 15 for a December 31 year-end. March 15, 2022 was also the due date for individual partners to receive Schedules K-1 showing their shares of the partnership’s income or loss for 2021.
Multiple-Member Limited Liability Companies (LLCs)
Multiple-member LLCs are formed according to state-level statutes. They can elect to be taxed as corporations, S corporations, or partnerships, but they’re often taxed as partnerships. The partnership filing and payment regulations apply in this case, including the March 15 deadline for giving partners their Schedule K-1s.
S Corporations
S corporations must file an information report on Form 1120S and provide Schedules K-1 to their shareholders by March 15.
C Corporations
Corporations can choose any convenient date as their year-end, but it’s usually a quarter-end date. Corporate tax returns are due, and taxes are payable on the 15th day of the fourth month after the end of the company’s fiscal or financial year. For example, a corporation with a year-end date of December 31 must file and pay taxes by April 15.However, 2021 tax returns for most corporations were due on April 18, 2022 due to the weekend.
Business Tax Return Due Dates
Here are the tax return due dates for small business taxes:
Sole proprietorship and single-member LLC tax returns on Schedule C with the owner’s personal tax return: April 18, 2022 Partnership tax returns on Form 1065: March 15, 2022 Multiple-member LLC returns filing partnership returns on Form 1065: March 15, 2022 S corporation returns on Form 1120 S: March 15, 2022 All other corporations with fiscal years ending other than December 31: the 15th day of the fourth month after the end of the fiscal year.But for 2021 tax returns, the due date was April 18, 2022.
Extension Deadlines for Business Tax Returns
Extensions have two deadlines. The first is for filing the application for the extension, followed by the deadline for filing the tax return at the end of the extension period.
Pass-Through Businesses
Personal tax returns can be extended if the request for the extension is filed by the due date. Use Form 4868 if you’re the owner of a pass-through business, and you report its income and deductions on your personal tax return. This is the extension application for a personal tax return, which would include your business income.
Other Business Tax Returns
Use Form 7004 to file an extension application for a business tax return, including partnerships, S corporations, or corporations. The due date of the application is the 15th day of the third month after the close of the business’s tax year. The IRS will grant the extension automatically if:
You complete the form properly and file it by the original due date,Make a proper estimation of tax due, andPay any tax that is due
Extension Due Dates
If you’ve taken an extension on your personal tax return, you have until October 15 to file your extended tax return. In 2022, since October 15 falls over the weekend, the last day to file returns after extension is October 17, 2022.
Estimated Tax Due Dates
The IRS wants to be paid at the time income is earned, not at the end of the tax year, so businesses and self-employed taxpayers must make quarterly estimated tax payments during the year. There are four due dates for estimated taxes that you might have to pay during the year:
April 15 ( April 18 for 2022 due to weekend) for income received for the period January 1 through March 31June 15 for income received for the period April 1 through May 31September 15 for income received for the period June 1 through August 31.January 15 (January 17, 2023 for 2022 due to weekend) of the following tax year for income received for the period September 1 through December 31
You can make your payments the next business day if any of these dates fall on a Saturday, Sunday, or legal holiday.
