Important Reminder – Upcoming Tax Filing & Payment Deadlines

As your trusted CPA and advisor, I am writing to remind you of the upcoming federal and state tax filing and payment deadlines that may impact your business. Staying compliant with these deadlines is crucial to avoid unnecessary penalties, interest, or administrative complications.

Key Upcoming Federal Deadlines (2025)

Entity Type	Filing Type	Original Deadline*	Extended Deadline** (if Form 7004 filed)
S-Corporations (Form 1120-S)	2024 Calendar Year Return	March 17, 2025	September 15, 2025
Partnerships (Form 1065)	2024 Calendar Year Return	March 17, 2025	September 15, 2025
C-Corporations (Form 1120)	2024 Calendar Year Return	April 15, 2025	October 15, 2025
Q1 2025 Estimated Taxes	Payment Due	April 15, 2025	N/A

*Deadlines falling on a weekend/holiday move to the next business day.

**Extensions apply to filing only, not payment—taxes owed must be paid by the original deadline.

Consequences of Late Filing or Payment

1. Late Filing Penalty: The IRS imposes penalties of $220 per shareholder/partner per month (up to 12 months) for late partnership or S-Corp returns. C-Corp late filing penalties are generally 5% of unpaid tax per month, up to 25%.

2. Late Payment Penalty: 0.5% per month of unpaid taxes, plus interest.

3. State Penalties: Many states impose additional penalties and interest.

4. Impact on Compliance: Late filings can delay loan applications, shareholder distributions, and other transactions.

Recommended Next Steps

- Gather and submit all required documents as soon as possible.

- Schedule a review with our office to finalize filings.

- Contact us if you anticipate challenges in paying taxes owed; we can help with payment plan options.

We are committed to helping you remain compliant and avoid unnecessary costs. Please contact us immediately to confirm your entity’s filing status and provide outstanding documentation.