March Tax Deadlines

For those small corporations, March 16th is an important date to remember.  Here are a couple things you need to have your tax filings up to date for the month of March.

March 16

Form 1120— File and pay a 2014 income calendar year income tax return.  

Form 7004— It is an Application for Automatic Extension of Time To File Certain Business Income Tax, Information and Other Returns.  This form give you a 6 month extension to file, make sure you deposit an estimated amount of what you owe.

Form 2553— S Corporation Election.  Its the form small businesses need to elect themselves to be treated as S Corporations beginning in calendar year 2015.  If this form is filed late, treatment as an S corp won’t begin until calendar year 2016.

Form 1120S— S Corporations need to file and pay a 2014 calendar year income tax return.  They also must distribute the schedule K1 (1120S) to each shareholder.

Form 1065B— Electing Large Partnerships.  Provide each partner with a schedule K1 (1065B).  This due date still applies even if the partnership is filing for an extension (Form 7004).

March 31

If you have missed the March 2 deadline, all forms below must be filed electronically by March 31.

1097, 1098, 1099, 3921, 3922, W-2G

See publication 1220 for filing these forms electronically.