2020 has been a year for the books, and the tax books were no exception. Deadlines were changed, stimulus checks were cut, and a record number of tax filings were submitted online. While we look to the coming year, we can all hope that some sense of normalcy begins to return. To help in this hope, we’ve compiled a list of the important 2021 tax dates and deadlines, because if one thing is certain in life: it’s taxes! Our dedicated tax professionals are ready to help make sure you never miss a deadline, no matter what life throws your way.
When Are 2021 Individual and calendar year C Corporation & Fiduciary Tax Returns Due?
If you are filing such a tax return in 2021 here are the tax dates you need to know:
- April 15th, 2021: regular deadline for the 2020 tax year
- September 15th, 2021: extension deadline for calendar year C Corporations returns
- September 30th, 2021: extension deadline for calendar year fiduciary returns
- October 15th, 2021: extension deadline for individual returns
If you need to file your taxes late in 2021, you can avoid major penalties by filing an extension. To make it easy and safe for our clients during the current climate, we support Zoom, Google Meet, and phone conferences for tax consults. Additionally, all materials can be uploaded from the safety of your home to our client portal.
Estimated Tax Payments in 2021
If you’re a business owner or someone who earns income that requires you to pay estimated tax payments throughout the year, here are your deadlines for 2021:
- January 15th, 2021: Q4 2020 Estimated Tax Payment Due
- April 15th, 2021: Q1 2021 Estimated Tax Payment Due
- June 15th, 2021: Q2 2021 Estimated Tax Payment Due
- September 15th, 2021: Q3 2021 Estimated Tax Payment Due
- January 15th, 2022: Q4 2021 Estimated Tax Payment Due
If you are self-employed, then you most likely need to be paying these quarterly estimated tax payments. They help prevent massive tax bills that you can’t afford come April 15th. Form 1040-ES and a dependable accountant can save you some heartache come tax time. Like income tax return dates, these deadlines are when your forms should be postmarked or e-filed (by midnight).
Other Important Deadlines
Of course, in order to file your taxes, you’ll need W2s from your employer. Federal law requires that your employer distribute your W2 to you by January 31st. In addition to W2s, you’ll also need tax forms for things like health insurance, stocks, student loans, charitable donations, and mortgage payments.
While not strictly related to taxes, if you run a small business, now is the time to start checking for dates for any license renewals you may need. Many city and county business licenses, state revenue agency registrations, insurance requirements, and professional licenses have to be renewed annually. Be sure to check for any upcoming due dates. (Hint: check your books for the previous three years to see any city or government payments. It’s probably a license!)
When Are 2021 S Corporation and Partnership Tax Returns Due?
If you are filing such a tax return in 2021, here are the tax dates you need to know:
- March 15th, 2021: regular deadline for the 2020 tax year
- September 15th, 2021: extension deadline for the 2020 tax year
If you need to file your taxes late in 2021, you can avoid major penalties by filing an extension.
The March 15th deadline for taxes means this is the date that your 2020 return must be e-filed by midnight. If you are mailing in a paper return, then the postmarked date on the return must be March 15th.
Tax Preparation Services
If you’re not sure about what all documentation you need or when you’ll need to have your return ready to file, our CPAs are here to help. At Orsini & Associates, we offer full tax preparation services for individuals and businesses. Located in beautiful Savannah, Georgia, we use technology that makes document sharing, meetings, and submitting filings convenient and cheaper for our clients nationwide. Contact us today to schedule an initial consultation.
And don’t forget that taxes aren’t something to think about just once a year! Tax planning can help you spot strategic advantages year-round, ensuring maximum credits and deductions come tax day. Our experienced, licensed CPAs provide tax planning and projecting services.