However, if your S corporation was once a C corporation, it may owe a corporate-level tax in certain limited situations. If your business has always been an S corporation, it is effectively treated as an extension of the shareholders for many tax purposes and will generally not owe any tax itself. With fiscal years ending June 30, 2027, the filing deadline moves to October 15th (the 15th day of the 4th month following the end of the fiscal year) and the extended deadline moves to March 15th (six months after the first deadline). This exception applies for fiscal years ending through June 30, 2026. For example, the due date for the tax return of a corporation for the fiscal year ending Mais July 15, 2022.Īn exception to this - corporations with a fiscal year from July 1 to June 30, the initial deadline will remain September 15th (15th day of the 3rd month following the end of the fiscal year) and the extension deadline remains February 15 (five months after the first deadline).
In the event you are a fiscal year taxpayer, please adjust your due dates based on the information provided above.
The dates above assume your business entity is a calendar year taxpayer. The IRS may hit your business with costly penalty and interest charges if you underestimate your taxes, file your return late, or do not furnish certain information by the due date.
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