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Missing a tax deadline can cost penalties and interest. A simple calendar keeps your small business on track.
Know your business type
Sole owners, partnerships, S corporations, and C corporations have different forms and due dates. Check the IRS website for the ones that apply to you.
Estimated taxes
If you expect to owe tax and no one withholds it, you may need to pay estimated taxes four times a year. The IRS Form 1040-ES instructions list the dates.
Payroll and sales tax
If you have employees or sell taxable goods, there are separate federal and state deadlines. Your state revenue department lists sales tax due dates.
Extensions
An extension usually gives more time to file, not more time to pay. Pay what you estimate you owe by the original due date.
Step by step
- List every tax your business pays.
- Look up each due date on the IRS and state websites.
- Put all dates on a calendar with reminders a week ahead.
- Set aside money for taxes from each payment you get.
- Review the list each year for changes.
Helpful tips
- Keep business and personal money in separate accounts.
- Save receipts as you go, not at year end.
- Use IRS Direct Pay or EFTPS for records of payment.
- Ask a tax professional if you are unsure.
- Watch for scam calls claiming to be the IRS.
What to keep on file
- Copies of filed returns
- Proof of every tax payment
- Receipts and income records
- Payroll and sales tax filings
A simple tax calendar can save you from costly penalties.