Important Tax and Filing Dates for Individuals and Small Businesses

For both individuals and small businesses, keeping track of all the important tax and money due dates throughout the year can be overwhelming. Forgetting a deadline is an extremely costly mistake in most cases: you end up paying fees and penalties for slipping up. Don’t let a lack of organization cost you; here’s a list of the major dates in 2013 you need to be aware of:

Important Tax and Filing Dates for 2013

Important Notes

• [A] You can create and electronically file forms W-2 and W-3 online at SSA.gov.
• [B] You can create and electronically file forms 1099-MISC through a variety of online services including Intuit’s Online Payroll Service.
• [C] You can file a wide variety of tax forms and make payment via EFTPS.

Photo by alancleaver via Flickr

State and Local Government Deadlines

Most States and local governments have similar deadlines as the IRS. Here are some specific examples:

• For Employers
  • W-2 forms submissions (similar to submission to SSA)
  • Unemployment payment (similar to FUTA)
  • Corporate Income Tax
  • Annual Report
• For individuals:
  • Quarterly Estimated Tax Payments are also due at the same time for most States.

Additionally, many local governments have their specific requirements, for example:

• Business/Professional/Occupational Licenses (BPOL)
• Business Property Tax

Break Down by Type of Tax

Income Tax Due Dates

• Federal Income Tax:
  • Due Date for 2013: April 15, 2013 for your 2012 Federal Tax Return.
  • Due Date Normally: Around April 15th. The due date changes slightly based on if the 15th falls onto a weekend and if there is a holiday the following day. Don’t wait this long – file your taxes before the deadline.
• State Income Tax:
  • The due date for your state income tax return will be dependent on the state you live in. A large majority of states have the same due date as the Federal income tax return due date, but there are several with differing dates.

Tax Extension Deadline

• Due Date for 2013: April 15, 2013 for your 2012 Federal Tax Return
• Due Date Normally: Around April 15th. This date coincides with the due date for your Federal tax return.
• Note: You must request an extension by this date. Getting an extension does not alleviate you from the requirement of paying any taxes due when you file your return, it just extends out the date until your return must be finalized. (In short, don’t file for an extension and pay no tax if you owe. This leads to penalties.)

Last Day to File Extended Federal Tax Return

• Due Date for 2013: October 15, 2013
• Due Date Normally: October 15

Tax Amendment Due Date

Quarterly Estimated Tax Payment Due Dates

Individuals with side business, freelancers, and small businesses must pay taxes on a quarterly basis. The specific due dates change based on the given year, but in general this is how the estimated tax dates work out:

• Normal Schedule:
  • First Quarter (January 1 – March 31): April 15
  • Second Quarter (April 1 – May 31): June 15
  • Third Quarter (June 1 – August 31): September 15
  • Fourth Quarter (September 1 – December 31): January 15 of following year
  • Also, note that the second quarter is only two months and the fourth quarter is four months.
• 2013:
  • First Quarter (January 1 – March 31): April 15, 2013
  • Second Quarter (April 1 – May 31): June 17, 2013
  • Third Quarter (June 1 – August 31): September 16, 2013
  • Fourth Quarter (September 1 – December 31): January 15, 2014
  • Also, note that the second quarter is only two months and the fourth quarter is four months.

Corporate Tax Filing Due Date

When your corporate taxes are due is dependent on what type of business you are running.

• Sole proprietors: Income is shown on your individual tax return. Taxes are due with your normal tax return; typically April 15th of the following year
• Partnership: Income is shown on your individual tax return. Most partnerships have a year end of December 31st so the partnership can issue a K-1 for the partner to use on their taxes due April 15th of the following year.
• LLC: A single member LLC is taxes like a sole proprietor. A multi-member LLC is taxed like a partnership. The tax due date is based on which type of LLC you are using.
• Corporation: The corporation’s year end can be any date the company chooses. Taxes are due on the 15th day of the 3rd month following year end. (A company with a year end date of January 31st would owe taxes on April 15th.)

W-2 Sending Deadlines

Employers that pay their employees as W-2 workers have deadlines to send the W-2 out to the individual, the Federal government, and the individual’s state:

• Deadline to Send W-2 to Individual: Employers must send the W-2 to the individual employee by January 31st.
• Deadline to Send W-2 to Federal Government: Employers must send the W-2 to the Federal government by either the last day of February (if sending via paper) or the last day of March (if sending electronically).
• Deadline to Send W-2 to Individual’s State: The deadline is state dependent.

1099 Sending Deadlines

Employers that pay their employees as contractors on 1099-MISC status have deadlines to send the 1099 form out to the individual, the Federal government, and the individual’s state:

• 1099 Sent to Contractor: Employers must send the 1099-MISC to the individual employee by January 31st.
• 1099 Sent to Federal: Employers must send the 1099-MISC to the Federal government by either the last day of February (if sending via paper) or the last day of March (if sending electronically).
• 1099 Sent to State: The deadline is state specific.

Kevin Mulligan

Kevin Mulligan is a debt reduction champion with a passion for teaching people how to budget and stay out of debt. He’s building a personal finance freelance writing career and has written for RothIRA.com, Discover Bank, and many others.