ITG FAQ #9 Answer: What are my filing requirements if I own a business?


The filing requirements for business owners depend upon the type of business (sole proprietorship, partnership, corporation, S Corporation). Also, if you have employees, you are required to file employment tax related returns. Listed below are common forms and due dates businesses are subject to:

Business/Tax type THEN use  Filing due date
Sole proprietorship Form 1040PDF and Schedule CPDF April 15

Form 1065PDF

April 15; for fiscal year partnerships the return is due on the 15th day of the fourth month after close of the tax year

Form 1120PDF (corporation)

Form 1120-SPDF (S corporation)

March 15; for fiscal year corporations the return is due on the 15th day of the third month after close of tax year
Self-employment tax Schedule SEPDF April 15, filed with 1040 and Schedule C or C-EZ
Estimated tax (sole proprietor business) Form 1040-ESPDF Quarterly — April 15, June 15, September 15, January 15
Social Security and Medicare taxes and income tax withholding on employee's wages

Form 941PDF

Form 941 — quarterly, deposits due dependent upon tax liability, refer to Publication 15, Employer's Tax GuidePDF, for detailed information
Providing information on social security and Medicare taxes and income tax withholding

Form W-2PDF (to employee)

Form W-2PDF and Form W-3PDF (to the Social Security Administration)

Provide to employee by January 31

Provide to Social Security Administration by February 28 (March 31 if filed electronically)

Federal unemployment Tax (FUTA)

Form 940PDF

January 31
Filing information returns for payments to nonemployees and transactions with other persons Form 1099-MISCPDF

Provide to recipient by January 31

All 1099-MISC forms with payments in box 7 (non-employee compensation) are due to the IRS by January 31. File other paper Forms 1099-MISC with the IRS by February 28 (March 31 if filed electronically).

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