The 2023 tax season is upon us, and our Wichita and Denver CPA’s and tax accountants are ready and rearing to help you and your business navigate it. For many people, tax season is the most stressful time of the year.
We get it.
However, as Denver’s premiere tax services firm, we also know that the best way to ease that stress is to be prepared. That’s why we’ve laid out a comprehensive guide to 2023 tax deadlines. Below you will find the most important 2023 tax deadlines for easy reference to know when your taxes are due.
*NOTE: The following tax deadlines are for calendar year entities. Fiscal year entities have different due dates.
Jan 16
–4th Quarter ES payments (Tax Year 2022)
If you pay estimated quarterly taxes, your fourth payment for the tax year 2022 (Form 1040-ES) is due Jan 16.
Important Forms
Jan 31
–Form 1099-NEC Deadline for Businesses
If your business paid an independent contractor over $600 in the last year, you are required to issue them a 1099-NEC before January 31.
Important Forms
–Form 1099-MISC Deadline for Businesses
A 1099 MISC is due on February 15 for all businesses that have made payments to non-employees in the last year (this includes payments of fees, benefits, commissions, prizes and awards).
Important Forms
–Deadline for Employer W-2 Filing
You will need to provide any W-2 or W-3 Forms to the IRS, as well as provide W-2’s to all employees you employed in 2023.
Important Forms
March 15
–Income Tax Filing Deadline for S Corporations and Partnerships
S corporation (Form 1120-S) and partnership (Form 1065) tax returns are due March 15.
If you think you’ll miss the deadline or need some extra time, March 15 is also the last day to file for an extension!
Important Forms
April 15
–Income Tax Filing Deadline for Individuals, Sole Proprietorships, C Corporations, Homeowners Associations, Estates & Trusts.
–First Quarterly Tax Payment Deadline
April 15 is Tax Day! All Individuals (Form 1040), sole proprietors (Form 1040 w/Schedule C), C Corporations (Form 1120), Homeowners Associations (Form 1120-H), Estates and Trusts (Form 1041 or Form 706) filing income tax returns must file by April 15.
If you think you’ll miss the deadline or need some extra time, April 15 is also the last day to file for an extension!
If you pay estimated quarterly taxes, your first payment (Form 1040-ES) is also due April 15.
Important Forms
- Form 1040, U.S. Individual Income Tax Return
- Form 1041, U.S. Income Tax Return for Estates and Trusts
- Form 706, U.S. Estate (and Generation-Skipping Transfer) Tax Return
- Schedule C, Profit or Loss from Sole Proprietorship
- Form 1120, U.S. Corporation Income Tax Return
- Form 1120-H, U.S. Income Tax Return for Homeowners Associations
- Form 1040-ES, Estimated Tax For Individuals
April 30
–First Quarterly Payroll Tax Filing Deadline
Don’t forget about payroll tax! The first quarterly deadline for employers to report the income, Social Security, or Medicare taxes withheld from their employee’s paychecks (Form 941) is April 30th this year.
Important Forms
June 17
–Second Quarterly Tax Payment Deadline
If you pay estimated quarterly taxes, your second payment (Form 1040-ES) is due June 15.
Important Forms
July 31
–Second Quarterly Payroll Tax Filing Deadline
Don’t forget about payroll tax! The second quarterly deadline for employers to report the income, Social Security, or Medicare taxes withheld from their employee’s paychecks (Form 941) is August 1 this year. This Q2 deadline usually comes on July 31, but because that falls on a Sunday in 2022, employers have an extra day to get those forms filed.
Important Forms
September 15
– Third Quarterly Tax Payment Deadline
– Extension Deadline (S corporations and Partnerships)
If you pay estimated quarterly taxes, your third payment (Form 1040-ES) is due September 15.
If you’re an S-corporation or partnership who filed for an extension, your tax filing deadline is September 15.
Important Forms
October 15
– Extension Deadline (Individuals, Sole Proprietorships, and C corporations)
If you’re an Individual, Sole Proprietorship, or C corporation who filed for an extension, your tax filing deadline is October 16.
Important Forms
- Form 1040, U.S. Individual Income Tax Return
- Schedule C, Profit or Loss from Sole Proprietorship
- Form 1120, U.S. Corporation Income Tax Return
October 31
–Third Quarterly Payroll Tax Filing Deadline
Don’t forget about payroll tax! The third quarterly deadline for employers to report the income, Social Security, or Medicare taxes withheld from their employee’s paychecks (Form 941) is October 31.
Important Forms
What do I do if I miss a deadline?
Life happens. Sometimes even the best laid plans fall through, and we miss a deadline. Don’t worry — it’s not the end of the world! Here’s what to do if you miss one of these important tax deadlines.
First of all, don’t forget that you have the right to file for an extension on your income tax return. If you’re anticipating needing extra time to prepare your return, be sure to submit your extension application before your usual tax filing deadline.
If you do miss a deadline without filing for an extension, there are a couple of things to keep in mind. Most importantly, you should know that penalties and interest will start to accrue the moment the deadline passes. This means that the longer you wait to file, the worse the situation could become.
Also, know that the IRS issues failure-to-file penalties and failure-to-pay penalties separately. So, even if you don’t anticipate being able to pay in full right away, you should still try to get your late returns filed ASAP to minimize the damage.
Finally, never forget that helping taxpayers resolve their back-tax issues is Boxelder’s bread and butter. You have one of Denver’s best tax services just a phone call away, so don’t try to face the unresponsive IRS on your own. If you think you may be behind on your filing and/or payments, don’t hesitate to give us a call!
