2023 Tax Deadline and Extension Dates | Incite Tax, John Briggs

Tax filing deadlines for this year. Here's a quick summary and then a quick explanation about how extensions work. March 15th is my deadline for S corps and partnerships. April 18th is my deadline for personal, my income, personal income tax return, and C corporations. Also, if I'm making estimated payments for next year, April 18th is the end of Q1. The deadline is the end of Q1. June 15th is the second quarter deadline for estimated payments for next year. Again, estimated payments relate to next year, not actual taxes that I owe this year. It's a prepayment. Q3 estimated payment deadline is September 15th, which also happens to be on September 15th the extension deadline for S corporations and partnerships. October 16th is my extension deadline for my personal tax return, and if you are making estimated payments, prepayments for the following year, January 15th of the following year is the Q4 deadline. Okay, here's a note about extensions. If I owe taxes, those are due April 18th regardless if I extend my return or not. So I can extend my return and not file until October, but if I owe taxes, those are always due April 18th. So if you're not sure, make sure you're giving as much information to your accountant as possible. So like if you're waiting on a K-1, at least estimate what that K-1 might be so that your accountant, hopefully us, can help you determine if you should make a payment in April to avoid interest and penalties. Because again, the extension does not extend when you owe the taxes. Those are always due April— by April 18th. Extending it is just for the filing. So there you have it. If you want a Quick resource that you can check. Please look in the description information. There will be a link. We have a one-page handout you can put on your desktop so that you have these dates, uh, at a click of the mouse away. Remember, profit is a choice. Have the courage and wisdom to choose it.