tax deadlines - Linkenheimer LLP CPAs & Advisors

An Essential Tax Deadline is Coming Up

Mark your calendars and stock up on coffee—Tuesday, April 15, 2025, is just around the corner. Yes, it’s that special day when accountants celebrate their “New Year’s Eve,” fueled by spreadsheets, calculators, and an unhealthy amount of caffeine. For taxpayers, it’s the infamous annual filing deadline, but wait—there’s more! It’s also the day the IRS expects your first quarterly estimated tax payment for 2025. That’s right, it’s a double-header of deadlines designed to keep you and your CPA on your toes.

Basic details

You may have to make estimated tax payments for 2025 if you receive interest, dividends, alimony, self-employment income, capital gains, prizes or other income. If you don’t pay enough tax through withholding and estimated payments during the year, you may be liable for a tax penalty on top of the tax that’s ultimately due.

Estimated tax payments help ensure that you don’t wind up owing one large lump sum — and possibly underpayment penalties — at tax time.

When payments are due

Individuals must pay 25% of their “required annual payment” by April 15, June 15, September 15, and January 15 […]

By Linkenheimer LLP|2025-04-10T22:19:26+00:00April 10th, 2025|estimated tax payments, tax deadlines|0 Comments

2024 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.

Note: Certain tax-filing and tax-payment deadlines may be postponed for taxpayers who reside in or have a business in a federally declared disaster area.

Tuesday, October 1

The last day you can initially set up a SIMPLE IRA plan, provided you (or any predecessor employer) didn’t previously maintain a SIMPLE IRA plan. If you’re a new employer that comes into existence after October 1 of the year, you can establish a SIMPLE IRA plan as soon as administratively feasible after your business comes into existence.

Tuesday, October 15

If a calendar-year C corporation that filed an automatic six-month extension:
- File a 2023 income tax return (Form 1120) and pay any tax, interest and penalties due.
- Make contributions for 2023 to certain employer-sponsored retirement plans.

Thursday, October 31

Report income tax withholding and FICA taxes for third quarter 2024 (Form 941) and pay any tax due. (See […]

By Linkenheimer LLP|2024-10-02T15:08:36+00:00October 2nd, 2024|New Tax Laws, News, tax deadlines|0 Comments

Q2 Estimates and PTE Payments Due June 17th

As we navigate through the second quarter of the year, it’s crucial to stay on top of your tax obligations to ensure smooth financial operations and compliance. In particular, we’d like to draw your attention to four important matters: Q2 estimate payments, the California Pass-Through Entity (PTE) elective tax payment, S-Corp estimated payments, and Form 3536 for LLC fees.

Q2 Estimate Payments: For those of you who are required to make quarterly estimated tax payments, the deadline for the second quarter is swiftly approaching. If you are self-employed, a freelancer, a sole proprietor, or have other sources of income not subject to withholding, you likely need to make estimated tax payments to cover your tax liabilities.

The due date for Q2 estimate payments is June 17, 2024, since June 15 falls on a weekend this year. Missing this deadline can result in penalties and interest charges, so it’s essential to ensure your payment is submitted on time. If you need assistance calculating your estimated tax liability or determining the appropriate payment amount, please don’t hesitate to reach out to us. We’re here to help you navigate the complexities of tax compliance and ensure […]

By Linkenheimer LLP|2024-06-13T13:15:46+00:00June 7th, 2024|payments, pte, tax deadlines|0 Comments

Keep These 3 Issues in Mind After You File Your Return

The tax filing deadline for 2023 tax returns was April 15 this year. If you filed for an extension, you have until October 15. In either case, once your 2023 tax return has been successfully filed with the IRS, there may still be some issues to bear in mind. Here are three considerations.

1. Waiting for your refund? You can check on it

The IRS has an online tool that can tell you the status of your refund. Go to irs.gov and click on “Get your refund status” to find out about yours. You’ll need your Social Security number or Individual Taxpayer Identification Number, filing status, and the exact refund amount.

2. Throwing away tax records

You should hold on to tax records related to your return for as long as the IRS can audit your return or assess additional taxes. The statute of limitations is generally three years after […]

By Linkenheimer LLP|2024-04-22T18:12:18+00:00April 22nd, 2024|tax deadlines, tax planning|0 Comments

2024 Q2 Tax Calendar: Key Deadlines for Businesses and Employers

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact your Linkenheimer CPA to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.

April 15

If you’re a calendar-year corporation, file a 2023 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any tax due.
For corporations, pay the first installment of 2024 estimated income taxes. Complete and retain Form 1120-W (worksheet) for your records.
For individuals, file a 2023 income tax return (Form 1040 or Form 1040-SR) or file for an automatic six-month extension (Form 4868) and pay any tax due.
For individuals, pay the first installment of 2024 estimated taxes, if you don’t pay income tax through withholding (Form 1040-ES).

April 30

Employers report income tax withholding and FICA taxes for the first quarter of 2024 (Form 941) and pay any tax due.

May 10

Employers report income tax withholding and FICA taxes for the first quarter of 2024 (Form 941), […]

By Linkenheimer LLP|2024-04-01T16:55:10+00:00April 1st, 2024|tax deadlines|0 Comments