Tax Deadlines for September 2023: What You Need to Know

With the month of September upon us also ushers in multiple federal tax deadlines. Knowing the due dates and requirements of each tax deadline can help you avoid unnecessary headaches and keep your finances on track. In this blog post, we will discuss the key tax deadlines you must know in September, what you need to do to comply with the regulations, and some tips to ensure you meet these deadlines.

September 15 Quarterly Estimated Tax Payment 

September 15th is the deadline for the third quarter estimated tax payment. The IRS requires individuals and corporations with income not subject to withholding to pay their estimated taxes quarterly. Failing to make the payment or underpaying the estimated amount can lead to interest and penalties. To avoid these fees, make sure to make your payment on or before the due date. 

September 15th Filing Deadline for Extended Partnership and S-Corporation Returns

If you filed a six-month extension for your partnership or S-corporation tax return in March, then September 15th is your extended due date. Failure to file a timely return will result in a penalties and interest with the IRS.

September 30 Deadline for Extended Trusts 

If you file an extension for your Trust tax return in April, then September 30th is the extended due date. As with the previous deadline, failure to file a timely return will result in penalties and interest with the IRS. 

Tips to Ensure You Meet the Deadlines 

⚫️ Plan ahead and set reminders for each tax deadline

⚫️ Send all necessary documents and records to your tax professional as early as possible  

⚫️ Engage with a tax professional to better understand the tax laws that could impact your business

Failing to meet the September tax deadlines could negatively impact your business’s growth and potential. By understanding, preparing, and organizing yourself for these deadlines, you can stay ahead of the curve and avoid the consequences that come with delayed or missed payments. Remember, planning and having a reliable tax preparation and planning advisor can make all the difference to ensuring you meet the deadlines and stay on track.

If you are needing assistance with meeting your deadlines, feel free to contact us using the button below.