February Letter of the Month
I hope this message finds you well. As the tax filing season gets underway, I’m reaching out to all of my clients regarding the deadlines for individual and business income tax returns.
Please take a moment to review the following deadlines and send the necessary information our way as soon as possible to ensure a smooth and timely filing process.
Individual Income Tax Returns (Form 1040)
The deadline to file individual income tax returns for tax year 2023 is Monday, April 15, 2024.
Business Tax Returns (Corporations, Partnerships, and Independent Contractors)
- C-Corporations (Form 1120): The deadline for filing C-Corporation tax returns is April 15, 2024.
- S-Corporations (Form 1120S) and Partnerships: The deadline for filing S-Corporation and Partnership tax returns is March 15, 2024, if you are a calendar-year business. If you use a fiscal year, you need to file by the 15th day of the third month following the close of your tax year.
- Independent Contractors (Form 1099): The deadline to send W-2s or 1099s to your employees and/or contractors is January 31, 2024. As you know, your employees can’t prepare their tax returns without these forms. Further, preparing the forms early helps to validate payroll costs when doing your business taxes.
We value your business and are here to help you navigate this tax season with confidence and clarity. Please do not hesitate to reach out with any questions.