BUSINESS FORMATION

January 1st: The beginning of the tax year marks the start of the period for which taxpayers will report their income and expenses.
January 31st: This deadline is significant for both employers and businesses. Employers must provide W-2 forms to employees, summarizing their earnings and taxes withheld, while businesses must issue 1099 forms to independent contractors, reporting their income.
March 15th: For businesses operating on a calendar year, this is the deadline for filing corporate tax returns. It's essential for businesses to prepare and file their returns accurately to avoid penalties.
April 15th: Traditionally known as Tax Day, April 15th is the deadline for filing individual income tax returns. Taxpayers must ensure their returns are postmarked or electronically filed by this date to avoid late-filing penalties.
October 15th: For taxpayers who need more time to complete their returns, the October 15th extension deadline provides an additional six months. However, it's important to note that an extension to file does not extend the deadline to pay any taxes owed.

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