Know your business tax deadlines for 2022
It’s like magic how so many things in life sneak up on you. You are going about your business when…
*Poof* it’s a loved ones birthday
*Poof* you have an important meeting happening in 10 minutes!
We want you to be ahead of the game when it comes to business tax deadlines. These are tax dates you can add to your calendar, set reminders, and be prepared for what’s coming next.
While we can’t keep everything in life from sneaking up on you, we’ve got you covered with your business and taxes!
January Tax Deadlines
- January 18, 2022
- 4th quarter Estimated Tax Payment. Your final opportunity to get a payment into the IRS for 2021.
- January 31, 2022
- W2’s are required to be filed with the SSA and in the mail to all employees.
- 4th Quarter & Annual Payroll Reports are due to tax agencies for businesses with employees.
- 1099 – NEC’s are required to be filed with the IRS and in the mail to all independent contractors. *Don’t forget that this form has taken the place of Box 7 on 1099-MISC. All Non-Employee Compensation is required to be filed on the 1099-NEC form. Some states also require a copy of 1099’s; make sure to check out your state requirements.
- 1099 – MISC forms need to be sent to all recipients by January 31st, but are not required to be submitted to the IRS until March 1st if paper filed or March 31st if sent electronically. 1099 – MISC is where you report miscellaneous income such as payments to attorneys and for rent.
February
- No Business Deadlines
March Tax Deadlines
- March 15, 2022
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- 1120S – S-Corp Tax Returns are required to be filed or an Automatic Extension applied for.
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- 1065 Partnership Income Tax Returns are required to be filed or an Automatic Extension applied for. Multi-member LLC’s would file a 1065.
April Tax Deadlines
- April 18,2022
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- 1040 – Individual Income Tax Returns due. If you are a Sole Proprietor or a Single member LLC, you will report your business income and expenses on a Schedule C and include it with your 1040.
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- Extensions – If you have not completed your 1040, make sure to file for an Automatic Extension. As a reminder, the extension allows you additional time to file, but your taxes are still due by April 18th. If you believe you will owe for 2021, estimate the tax owed and make a payment with the extension.
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- 1st quarter Estimated Tax Payment due for 2022.
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- HSA contributions for 2021. Last chance to squeeze HSA contributions in for the previous year
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- Traditional/ROTH IRA Contributions for 2021. You may be eligible to contribute up to $7000 depending on your situation.
May Tax Deadlines
- May 2, 2022
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- 1st Quarter Payroll Reports due for all businesses with employees.
June Tax Deadlines
- June 15, 2022
- 2nd quarter Estimated Tax Payment due for 2022.
July Tax
- No Business Deadlines
August Tax Deadlines
- August 1, 2022
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- 2nd Quarter Payroll Reports due for all businesses with employees.
September Tax Deadlines
- September 15, 2022
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- 1120S – Extended S-Corp Tax Returns are due
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- 1065 Extended Partnership Income Tax returns are due
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- 3rd quarter Estimated Tax Payment due for 2022.
October Tax Deadlines
- October 1, 2022
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- SIMPLE IRA plan set up deadline for existing businesses.
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- October 17, 2022
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- 1040 – Extended Individual Income Tax Returns are due
- October 31, 2022
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- 3rd Quarter Estimated Tax Payment due for 2022.
November
- No Business Deadlines
December
- No Business Deadlines
**Please note that I did not include SEP IRA or 401k Plan deadlines in this list of Important Dates. Speak to your tax professional if you have a SEP or 401k on deadlines applicable to your business.
Need help with your business taxes? We’ve got you covered! Visit www.acctable.com to book a virtual or in-person session today!