Hey everyone, I’m Bette Hochberger, CPA, CGMA. Whether you’re a new business or a seasoned pro, managing corporate tax deadlines is a crucial aspect of financial responsibility. In this blog, I will walk you through the key dates and forms for corporate taxes in 2024, helping you stay compliant and avoid penalties.
January 16, 2024: September-December Quarterly Payment Deadline
Ensure timely payment of estimated quarterly taxes for the period spanning September 1 to December 31, 2023.
January 31, 2024: Form W-2 and Form 1099-NEC Deadline
File Form W-2 for your employees with the IRS, and submit Form 1099-NEC for independent contractors, sending Copy A to the IRS and Copy B to the contractor.
February 28, 2024: Form 1099-MISC Paper Filing Deadline
If paper filing is necessary for miscellaneous payments like attorney fees or rent, ensure that Copy A is sent to the IRS, and Copy B to the payee.
March 31, 2024: Form 1099-MISC Electronic Filing Deadline
If filing electronically for non-wage payments, submit Copy A to the IRS and Copy B to the recipient. Note that this deadline applies for electronic filing; paper filing must be done by February 28, 2024.
April 15, 2024: January-March Quarterly Payment Deadline and C Corporation Tax Returns Deadline
Make your estimated quarterly tax payment for January 1 to March 31, 2024. For calendar year filers, submit your C corporation’s federal tax return (Form 1120) for 2023 or file for an extension. Pay any tax due, even if an extension is filed.
June 17, 2024: April-May Quarterly Payment Deadline
Ensure the timely payment of estimated quarterly taxes for the period spanning April 1 to May 31, 2024.
September 16, 2024: June-April Quarterly Payment Deadline
Make the estimated quarterly tax payment for the period spanning June 1 to August 31, 2024.
October 15, 2024: C Corporation Tax Return Extension Deadline
For C corporations that filed for an extension, submit the income tax return by this deadline.
Staying organized and aware of corporate tax deadlines is essential for financial success. Use this comprehensive guide to plan ahead, meet obligations on time, and ensure a smooth tax-filing process in 2024. Always consult with a tax professional for personalized advice tailored to your business’s unique circumstances.
I hope you learned something new today. As always, stay safe, and I will see you next time.
