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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 Form: Filing Due Date
Sole proprietorship


1040 and Schedule C or C-EZ April 15th


Partnership

1065

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



1120 or 1120-A (corporation)

1120S (S corporation)

March 15th; 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 SE
April 15th, filed with 1040 and Schedule C or C-EZ
Estimated tax (sole proprietor business) 1040-ES
Quarterly-April 15th, June 15th, September 15th, January 15th
Estimated tax (corporations)
1120-W

15th day of 4th, 6th, 9th, and 12th months of corporation's tax year
Social security and Medicare taxes and income tax withholding on employee's wages

941

Form 941: quarterly, Deposits due dependant upon tax liability, refer to Publication 15, Employer's Tax Guide, for detailed information
Providing information on social security and Medicare taxes and income tax withholding







W-2 (to employee)

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

Provide to employee by January 31st
Provide to Social Security Administration by February 28th (March 31st if filed electronically)





Federal unemployment Tax (FUTA)



940

January 31st

Filing information returns for payments to nonemployees and transactions with other persons
1099-MISC
Provide to recipient by January 31st

File with IRS by February 28th

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Page Last Reviewed or Updated: 20-Jan-2016