FEDERAL TAX REQUIREMENTS
YOU MAY BE LIABLE FOR
IF YOU ARE TAXED AS*
USE FORM
DUE ON OR BEFORE
Tax Identification Number
Sole proprietor with employees; Partnership; Corporation
SS-4, Application for Employer Identification Number (EIN)
See Instructions on Form SS-4
If you are a sole proprietor with no employees use your Social Security Number as your tax identification number
Individual – Income Tax Return
Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship) Schedule E (Form 1040), Supplemental Income or Loss
April 15th or the 15th day of the 4th month after the end of the tax year Same as above
Sole proprietor
Partner or S corporation shareholder
Business – Income Tax Return
Form 1065, U.S. Return of Partnership Income
15th day of the 3rd month following the close of the tax year 15th day of the 3rd month after the end of the tax year 15th day of the 4th month after the end of the tax year 15th day of the 4th, 6th, and 9th months of tax year, 15th day of 1st month after end of tax year 15th day of the 4th, 6th, 9th and 12th months of tax year See withholding and deposit instructions issued by IRS End of month following end of quarter
Partnership
Form 1120-S, U.S. Income Tax Return for an S Corporation Form 1120, U.S. Corporation Income Tax Return Form 1040-ES, Estimated Tax For Individuals
S corporation
Corporation
Estimated Taxes – Individual
Sole Proprietor or individual who is a partner or S corporation shareholder
Estimated Taxes – Corporation
Form 1120, U.S. Corporation Income Tax Return
Corporation
Withholding of Income Tax and FICA Deposits Return for Reporting Withholding of Employee’s Income Tax and FICA Reporting Information on Wage and Tax Statements (Form W-2) Unemployment Tax (FUTA)
Business with Employees
EFTPS
Business with Employees
Form 941, Employer’s Quarterly Federal Tax Return
W-3, Transmittal of Wage and Tax Statements
See Reporting Information on Wage and Tax Statements (Form W-2)
Business with Employees
Business with Employees
Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return
January 31
Unemployment Tax Deposits
Business with Employees
EFTPS
See FUTA Deposit Instructions issued by IRS File Form 1096 as follows. • With Forms 1097, 1098, 1099, 3921, 3922, or W-2G, file by February 28, 2023. • With Forms 1099-NEC, file by January 31, 2023. • With Forms 5498, file by May 31, 2023.
Information Returns
Business Required to File Form 1099, U.S. Information Returns
Form 1096, Annual Summary and Transmittal of U.S. Information Returns
Other Federal Taxes Call the IRS
Note that generally speaking, single-member LLCs may choose to be taxed as a sole proprietorship or a corporation. LLCs with at least two members may choose to be taxed either as a corporation or as a partnership.
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