Wednesday, March 15, 2023 marks the filing deadline for S Corporations and Partnerships. This year’s tax deadline for individuals, trusts, estates, gift, and C corporations will be Tuesday, April 18, 2023.
Do I have to pay if I plan to file an extension?
If you need to extend your 2022 filing date, please contact your accountant as soon as possible. Remember that even in the case of an extension, you still pay your estimated taxes on the original filing deadline—not the date of the extension.
When do I need to file my extension?
Partnerships and S Corporations must apply by March 15, 2023, which extends their tax-filing deadline to September 15, 2023.
Individuals, gift, and C Corporation returns must apply for an extension by April 18, 2023, which extends their tax-filing deadline to October 16, 2023.
Trust and estate income tax returns also need to apply for an extension by April 18, but this extends their filing deadline to October 2, 2023.
When are quarterly estimated payments due?
As a reminder, all quarterly estimated tax payments for individuals and C Corporations, should be made on the following schedule:
April 18, 2023: Deadline for 2023 Q1 estimated tax payments
June 15, 2023: Deadline for 2023 Q2 estimated tax payments
Sept. 15, 2023: Deadline for 2023 Q3 estimated tax payments
Jan. 15, 2024: Deadline for 2023 Q4 estimated tax payments
C Corporations will make their final estimated quarterly tax payment on December 15, 2023.
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Even if you already know you will be extending your returns this year, you can always contact your accountant to review your first quarter estimate and extension payments, any elections or credits you may qualify for if your tax situation has changed, and any tax minimization strategies for the current year.