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Key Tax Deadlines for Small Business Owners

Business Finance TaxAct's Guide to Your 2023 Taxes Taxes
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Curious about the business tax deadlines that you should mark on your calendar this tax season? Here’s what small business owners need to know.

Deadlines for filing small business tax returns

There are different filing deadlines to be aware of depending on what type of business you have. Below are the key tax calendar dates to watch for in 2024.

Jan. 31, 2024

  • Deadline for any employees or independent contractors you hired last year to receive their W-2, 1099-NEC, or 1099-MISC tax forms.

March 15, 2024:

  • Deadline to file business tax returns for partnerships, S corporations, or LLCs that are taxed as partnerships (note that this is the deadline for calendar year filers). While most taxpayers fall under this category, there are special exceptions for fiscal-year taxpayers. If your tax year doesn’t start on Jan. 1, you will instead follow the IRS fiscal year due date.
  • Deadline to file Form 2553 to switch your business election to an S corporation (S corp) for tax year 2023. If you miss this deadline, your business will not be treated as an S corp until calendar year 2024.

April 15, 2024:

  • Deadline for C corporations, sole proprietorships (Schedule C), single-member LLCs or LLCs taxed as corporations, and individuals to file their tax returns.
  • Last day for you to make 2023 contributions to traditional and Roth IRAs.

Sept. 15, 2024:

  • Deadline to file your partnership or S corporation return if you requested an extension.

Oct. 15, 2024:

  • Deadline to file your sole proprietorship, multi-member LLC, or corporate return if you requested an extension.

2023 quarterly estimated tax payment deadlines

If you are self-employed or receive any form of income that requires you to pay estimated taxes, here are the estimated tax due dates for 2023:

  • April 15, 2023 – Deadline for 2023 Q1 estimated tax payments
  • June 15, 2023 – Deadline for 2023 Q2 estimated tax payments
  • Sept. 15, 2023 – Deadline for 2023 Q3 estimated tax payments
  • Jan. 16, 2024 – Deadline for 2023 Q4 estimated tax payments

2024 quarterly estimated tax payment deadlines

  • April 15, 2024 – Deadline for 2024 Q1 estimated tax payments
  • June 15, 2024 – Deadline for 2024 Q2 estimated tax payments
  • Sept. 15, 2024 – Deadline for 2024 Q3 estimated tax payments
  • Jan. 15, 2025 – Deadline for 2024 Q4 estimated tax payments

Note: If any of the above dates fall on a weekend or federal holiday, the payment deadline falls on the next business day instead.

How to file a tax extension as a small business owner

Not quite ready to file your taxes yet? That’s okay — if you need more time, you have until your tax-filing deadline (March 15 or April 15, 2024, depending on your business structure) to apply for a tax-filing extension. An extension will give you an extra six months to file your return.

  • Sole proprietors can request a tax extension using IRS Form 4868
  • Partnerships, LLCs, S corps, and C corps can request an extension using IRS Form 7004

Just remember, a tax extension only extends your filing deadline, meaning you still need to pay any estimated tax payments on your business’s tax deadline. Make sure to pay your estimated taxes on time to avoid any late fees!

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