Corporate, Partnership, C-Corporation, an S-Corporation Tax Return Extension Due Dates

File form 7004 tax extension

Entrepreneurs may be busy with so much on their plates as tax return deadlines are approaching. The IRS has started and swarming by accepting tax returns for 2020. It is a perfect time to ensure if you are aware of the deadlines approaching for tax filing.  Businesses have many categories, and hence navigating in detail and completing the tax return process is an ideal choice. Here are a few details about the business and their extension due dates. 

Partnership and S corporations

If your organization falls under an S corporation or partnership, then filing tax returns by March month 15th after the organization tax year is crucial. A partnership must utilize form 1065 that details the scheduled K-1 earning statement for every year. Form the 1120S is obligatory for S corporations for preparation of schedule K-1. 

S corporations and partnerships can seek a six-month extension of the due date by submitting form 7004. They also need to provide a deposit equivalent to the tax owed. The yearly tax return with penalties and interest is due by September month 15th. 

Corporate income tax returns

For submitting the corporate tax returns for income gained in 2020, the deadline is until April month 15, 2021. Either form 1120 or form 7004 must be filed for requesting an extension of about six months. The deadline is also applicable for the first quarterly tax fee of the year. 

For businesses requesting an extension, have a due date until October month 15th for submitting the tax return utilizing form 1120. At that time, the organization needs to pay the interest, penalties, and any remaining taxes. 

Sole proprietor income tax return’s deadline

Sole proprietors report business income with form 1040 and Schedule C profit or loss form. The process is an annual process for reporting business deductions and income. Apart from all these, they also need to file the schedule SE, self-employment tax. Other schedules and forms are applicable depending on the business activities and their nature. For taxpayers following the calendar year, the due date falls on April 15th extends to May 17, 2020. Form 4868 filing helps in an automatic extension of six months.  

Estimated income tax deadline 2021

Businesses calculate the quarterly income tax liability by utilizing form 1120-W. The due dates for estimated income tax fall on the following dates.

  • April month 15th for the first quarter
  • June month 15th for the second quarter
  • September month 15th for the third quarter 
  • December month 15th for the fourth quarter 

Federal excise tax for small business

For different industries and products, the federal excise tax is applicable. 

  • For travel services, communication companies, manufacturers, and retailers the form 720 is applicable. These are a quarterly federal excise tax return and is filed quarterly with due dates April month 30, July month 30, October month 29, 2021, and 2022 January month 31.
  • Companies operating heavy vehicles must file form 2290. For succeeding filings, the excise tax starts on July month 1st and ends on June month 30th. 

These tax returns and extension due dates are possible by opting for the e-filing option. is an appropriate platform that helps e-file extension for tax returns. Businesses can hence choose for hassle-free tax filing.