If you know when and what you have to file for small business taxes can save you a lot of headaches during tax season. It doesn’t matter whether your untaxed money comes from a job, investments, alimony or prizes you’ve won, if it’s untaxed, you have to pay your quarterly estimated tax payments. To avoid paying penalties and getting yourself into trouble with the IRS, mark your calendar with the following important tax deadlines.
- 2015 Individual Income Tax Returns due. If you’re planning to file an extension, you’ll need to do it before this date. Otherwise, have your taxes postmarked by midnight on April 18th.
- 1st Quarter 2016 Estimated Taxes due. If you are self-employed, run a small business, or have other first-quarter income that requires you to pay quarterly estimated taxes, get your Form 1040-ES and send it off by April 18th.
- Last day to make an IRA contribution for 2015.
- 2nd Quarter 2016 Estimated Taxes due.
- 3rd Quarter 2016 Estimated Taxes due.
- Extended individual income tax returns due.
January 17th 2017
- 4th Quarter 2016 Estimated Taxes due.