2022 Tax Season: Important Dates And Deadlines

Sole Proprietors, LLCs, and C Corporations Tax Date

The deadline for a Sole Proprietor, LLC, and C Corporations to file taxes is April 18, 2022. These businesses can file for a tax extension, but the request must be received by April 18, 2022. If the extension is approved, the new tax deadline is October 17, 2022. The tax return must be postmarked by the due date.

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Estimated Tax Payment Deadlines

Business owners commonly make estimated tax payments. Estimated tax payments are made each quarter. Experts suggest that it is better to overpay than to underpay. Underpaying can result in penalties.

2022 Estimated Tax Payment Deadlines are as follows:

  • April 18, 2022 (for January- March income)
  • June 15, 2022 (for April-May income)
  • September 15, 2022 (for June-August income)
  • January 16, 2022 (for September-December income)

When can 2022 taxes be done?

The IRS generally begins accepting electronic tax returns in late January, usually by January 24.

Important Dates

  • January 15, 2022: Fourth quarter estimated tax payments for 2021 are due.
  • January 20, 2022: Employees who earned over $20 from tips in December must report this income to their employers using Form 1070.
  • January 31, 2022: Employers must send W-2 forms to their employees and 1099 forms to their contractors for 2021 earnings.
  • February 10, 2022: Employees who earned over $20 in tips during January must report this income to their employers using Form 1070.
  • February 15, 2022: Financial institutions must send Form 1099-B (sales of stocks/bonds/mutual funds through a brokerage account), Form 1099-S (real estate transactions), and Form 1099-MISC unless the sender is reporting payments in boxes 8 or 10.
  • February 28, 2022: Businesses must mail Forms 1099 and 1096 to the IRS.
  • March 1, 2022: Farmers and fishermen must file individual income tax returns (unless they paid 2021 estimated tax by January 18, 2022).
  • March 10, 2022: Employees who earned over $20 in tips during February must report this income to their employers using Form 1070.
  • March 15, 2022: Corporate tax returns (Forms 1120, 1120-A, and 1120-S) for the tax year 2021 must be filed by this date, or you may file for a six-month extension using Form 7004 (for corporations using the calendar year as their tax year), or Form 1065 (for filing partnership tax returns).
  • March 31, 2022: Deadline to e-file Forms 1099 and 1098 to the IRS (but not Form 1099-NEC).
  • April 11, 2022: Employees who earned over $20 in tips during March must report this income to their employers using Form 1070.
  • April 18, 2022: Household employers who paid $2,300 or more in wages in 2021 must file Schedule H for Form 1040.
  • April 18, 2022: Individuals must file their tax returns for 2021, or Form 1040 or Form 1040-SE. Form 4868 must also be filed by this date to request an extension.
  • May 10, 2022: Employees who earned over $20 in tips during April must report this income to their employers using Form 1070.
  • June 10, 2022: Employees who earned over $20 in tips during May must report this income to their employers using Form 1070.
  • June 15, 2022: Second quarter estimated tax payments for the 2021 tax year must be complete.
  • June 15, 2022: U.S. citizens living abroad must file individual tax returns (or Form 4868) by this date to receive a four-month extension.
  • July 11, 2022: Employees who earned over $20 in tips during June must report this income to their employers using Form 1070.
  • August 10, 2022: Employees who earned over $20 in tips during July must report this income to their employers using Form 1070.
  • September 12, 2022: Employees who earned over $20 in tips during August must report this income to their employers using Form 1070.
  • September 15, 2022: Third quarter estimated tax payments for the 2021 tax year must be received.
  • September 15, 2022: Partnership and S-corporation tax returns for the tax year 2021 must be filed by this date if an extension had been previously granted.
  • October 11, 2022: Employees who earned over $20 in tips during September must report this income to their employers using Form 1070.
  • October 17, 2022: Final deadline to file individual or corporate tax returns for 2021 using Form 1040 and Form 1120 (if an extension was previously granted).
  • October 17, 2022: Eligible taxpayers who earned $72,000 or less in adjusted gross income during 2021 can use Free File to file their returns by this date.
  • November 10, 2022: Employees who earned over $20 in tips during October must report this income to their employers using Form 1070.
  • December 10, 2022: Employees who earned over $20 in tips during May must report this income to their employers using Form 1070.

Want to make sure your books are clean and ready for the upcoming tax season? Book a Discovery Call today!

References

https://xendoo.com/dates-and-deadlines-when-you-can-file-small-business-taxes-in-2022/

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