When it comes to following up on your taxes every year, it can be challenging to keep up with the most up-to-date tax dates for individual and business tax filers. By keeping up with the below dates, you will avoid costly penalties that may come from the IRS. Remember that you may acquire an extension for your filing dates, so consult with a Certified Public Accountant near you.
In 2023, it’s important to remember these significant tax dates:
- January 15 – Individuals and businesses should note that the fourth quarter estimated tax payment is due on January 15, 2023. If your income is not subject to withholding or you are self-employed, make estimated tax payments periodically during the year.
- January 31 – This is the last day to file as an employer for 1099 and W2 filings for employees.
- March 15 – Businesses that include partnerships, S-Corporations, and certain LLCs must file taxes on March 15. An extension may be provided so it is important to ask your accountant.
- April 15 – You must file your federal income tax return and settle any outstanding tax liabilities by this date. Additionally, this deadline is applicable for individuals to make contributions to traditional and Roth IRAs for the prior tax year. For C-Corporations, this is also the due date for filing.
- June 15 – If you’re an individual that is living abroad, you get an extra 2 months to file your federal income tax return. You can file Form 4868 for an extension for an additional 4 months.
- December 31 – This is the last day of the year to make any contributions to an IRA, health savings account (HSA), or Archer Medical Savings Account (Archer MSA) for the current tax year is December 31, 2023.
Apart from the mentioned dates, it’s important to remember other significant dates related to business taxes, such as the deadline for submitting amended returns, paying taxes on unemployment benefits, and filing state and local income tax returns. It is also important to note these dates may change from year to year, so it is best to follow up with your tax accountant. Tax accountants such as Bornanzyan & Boranzyan LLP in Los Angeles County can ensure you are on top of these due dates and keep your files up-to-date when needed.
If you’re seeking a CPA or accountant for your business or individual taxes, don’t hesitate to contact a California accountant at 818-319-0028. By seeking a tax professional such as Bornazyan & Bornazyan LLP, you can ensure that your tax affairs are in order.