The tax schedule brings a sense of certainty and familiarity to the world of taxes, as it remains unchanged in the face of other ongoing changes. This summary provides a helpful overview to make tax management for startups less burdensome.
January 31st marks the deadline for completing Forms W-2 and W-3 for employment and contracting purposes. February 28th is significant, with two important due dates: Form 1099s for real estate and property transactions, and Form 1099-DIV for dividend reporting. Delaware tax law deserves special attention since most businesses are incorporated in Delaware, making its tax law somewhat standard. March 1st is the deadline for franchise annual fees and taxes, following closely after the Form 1099s and 1099-DIV deadlines.
April 18th is Tax Day, serving as the deadline for Quarter 1 estimated tax payments to the IRS. On May 31st, companies with 10% or more foreign investment must submit the BE-12 form. June 1st is the deadline for Quarter 2 estimated tax payments, followed by June 15th for the Delaware annual franchise fee. The year concludes with important dates, including September 15th for Quarter 3 estimated tax payments, December 16th for Quarter 4 estimated tax payments, and October 16th for extended returns for LLCs and C-corps.While the tax deadline calendar can be confusing, it is essential for startups to manage it effectively. By planning carefully and utilizing the provided infographic, businesses can easily keep track of deadlines. This saves valuable time that can be redirected towards strategic planning, with taxes becoming a secondary consideration.
