When Are Business Taxes Due In 2025?
Written by
Elizabeth Constantineau
Edited by
Nupur Gambhir
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Just like individuals, businesses have to pay taxes too. However, the due date for when you file depends on how your business is structured. Plus, many businesses pay estimated taxes each quarter.
Here are the important deadlines for paying taxes for your business.
Important Dates for Business Taxes
- Jan. 31, 2025: Deadline for submitting W-2 and 1099 forms for tax year 2024.
- March 15, 2025: Due date for S-corporations and partnerships to submit their tax returns for tax year 2024.
- April 15, 2025: Filing deadline for C-corporations and sole proprietors to file their tax returns for tax year 2024.
- Sep. 15, 2025 and Oct. 15, 2025: Deadline for tax returns to be filed if you requested an extension for tax year 2024. Note that the extension date is six months from the filing due date, so if your due date was March, your extension is due in September.
It’s important to follow these deadlines so that you don’t break the law or have to pay late penalties.
More Important Tax Filing Dates for Businesses in 2025
Many businesses pay estimated taxes on a quarterly basis. For the 2025 tax year, estimated tax payments are due on:
- April 15, 2025: Estimated taxes for the first quarter of 2025.
- June 16, 2025: Estimated taxes for the second quarter of 2025.
- Sep. 15, 2025: Estimated taxes for the third quarter of 2025.
- Jan. 15, 2026: Estimated taxes for the fourth quarter of 2025.
Navigating Extensions and Penalties
If you are unable to file your business taxes by the deadline, you can get a six-month extension from the IRS.
When you file for an extension, using IRS form 7004, you must pay the tax you estimate you will owe when you file your return.
Once you file your business return, you’ll get a refund if you overpaid, or you will have to pay the balance and a penalty if you underpaid.
How To Prepare for 2025 Tax Deadlines
Here are some tips to ensure your business is ready for the upcoming tax deadlines:
- Gather documentation: As soon as you close the books on 2024, set aside all necessary financial records, including income statements, expense reports, payroll information and any documents related to business assets or deductions.
- Review tax law changes: These changes may include changes in tax rates, deduction limits or new credits for which your business could be eligible.
- Use a tax software. This can help you keep track of your records and stay organized.
- Consult with a professional: They can help navigate complex tax scenarios, identify opportunities for savings and ensure compliance with state and federal regulations.
- Plan for payments: If you owe taxes, plan ahead for how you’ll make payments to the IRS. Exploring payment options early can help you manage your cash flow and avoid surprises as deadlines approach.
What happens if you miss your business tax deadline
Missing your business tax deadline can trigger a range of IRS penalties and interest charges. The longer you wait to file or pay, the more expensive it becomes.
Failure-to-file penalty
If you don’t file your return on time, the IRS typically charges a penalty of 5% of the unpaid taxes for each month or partial month your return is late. This penalty can accrue up to a maximum of 25% of your unpaid balance. If your return is more than 60 days late, a minimum penalty may apply–whichever is less: a flat amount (around $485 for 2024) or the full amount you owe.
Failure-to-pay penalty
Even if you file your return, you can still be penalized for not paying on time. The failure-to-pay penalty is 0.5% of your unpaid taxes for each month or part of a month after the due date, up to 25%. If you’re on an IRS payment plan, the penalty rate is reduced to 0.25% per month.
Interest on unpaid taxes
Interest starts accruing the day after your tax is due and continues until the full balance is paid. The rate is set quarterly and is based on the federal short-term rate plus 3%. This can add up quickly, especially if your balance is high.
Extra penalties for partnerships and S corporations
Partnerships and S corporations face additional penalties for late filing. For each month a return is late, the IRS may charge a per-partner or per-shareholder penalty. This amount is assessed monthly and can add up significantly if multiple partners or shareholders are involved. Missing Schedule K-1 forms can result in separate penalties for each unfiled form.
Consequences for repeated or intentional noncompliance
If the IRS finds that a business intentionally failed to file or pay taxes, penalties can be more severe. In extreme cases involving fraud, the IRS may pursue civil fines or even criminal charges.
What to do if you missed the deadline
- File your return as soon as possible. The failure-to-file penalty is steeper than the failure-to-pay penalty, so filing, even without full payment, helps limit the damage.
- Pay what you can right away. Even a partial payment reduces the interest and penalty amounts.
- Set up a payment plan. The IRS offers installment agreements for businesses that can’t pay in full immediately.
- Request penalty relief. If your business has a good history of compliance or a valid reason, like a natural disaster or serious illness, you may qualify for penalty abatement.
Final Take
Make sure you understand your businesses tax deadlines. It can be different for each business.
Keep your records organized and file on time or request an extension. This will help you avoid costly penalties.
FAQ
Here are the answers to some of the most frequently asked questions about business taxes.- What is the business tax deadline for LLCs?
- If the LLC doesn’t have an extension, they must pay by April 15.
- Do self-employed individuals need to pay quarterly taxes?
- Self-Employed individuals don’t have to pay quarterly taxes, but many find it helpful so they can pay their taxes in more manageable amounts.
- How do I file a business tax extension with the IRS?
- Submit form 7004 to request a filing extension. You will still have to pay estimated taxes.
- What if I miss the quarterly estimated tax deadline?
- You should contact the IRS right away to set up a payment plan and minimize late penalties.
- Do C-corporations and S-corporations file at the same time?
- S-corporations and partnerships typically need to file their returns by March 15
- C-corporations have an April 15 deadline, assuming they operate on a calendar year.
- For those on the fiscal year, the deadlines adjust to the 15th day of the third or fourth month after their fiscal year ends, providing some flexibility based on business operations.
Karen Doyle contributed to the reporting of this article.
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