January 15
Individuals make a payment of your estimated tax for 2024 if you didn’t pay your income tax for the year through withholding (or didn’t pay in enough tax that way) via Form 1040-ES.
Farmers and fishermen pay your estimated tax for 2024 using Form 1040-ES – if you pay your tax in full, you have until April 15 to file your 2024 income tax return. If you don’t pay your estimated tax by January 15, you must file your 2024 return and pay any tax due by March 3, 2025 to avoid an estimated tax penalty.
January 31
Form 1099 due to recipients of certain payments made during 2024 for interest, rent, contract labor, veterinarian services, etc., including the new 1099-NEC Form.
Provide employees copy of Form W-2 for 2024.
Farm employers file Form 943 to report social security and Medicare wages, and withholdings.
Non-farm employers file form 941 for the fourth quarter to report social security and Medicare wages, and withholdings.
Employers file form 940 for federal unemployment tax.
March 17
S Corporations file a 2024 calendar year income tax return (Form 1120S). Provide each shareholder with a copy of Schedule K-1. If not able to file, file Form 7004 to request an automatic six-month extension.
Partnerships and LLCs taxed as a partnership file a 2024 calendar year return (Form 1065). Provide each partner with a copy of Schedule K-1. If not able to file, file Form 7004 to request an automatic six-month extension.
April 15
Individuals file a 2024 income tax return (Form 1040) and pay any tax due. If not able to file, file Form 4868 to request an automatic six-month extension. Any tax due must be paid with the extension.
First quarter estimate is due for 2025 for individuals paying estimated taxes.
C Corporations file a 2024 calendar year tax return (Form 1120) and pay any tax due. If not able to file, file Form 7004 to request an automatic six-month extension. Any tax due must be paid with the extension.
C Corporations deposit the first installment of estimated income tax for 2025.
To view the winter 2025 issue of Partners magazine in its entirety, click here.
