The filing deadline for calendar-year S Corporations and Partnerships is March 15.
This deadline applies to:
- Form 1120-S (S Corporations)
- Form 1065 (Partnerships and most multi-member LLCs taxed as partnerships)
Even if the business does not owe income tax, these returns must be filed on time. Both S Corporations and Partnerships are pass-through entities, which means income, deductions, and credits flow through to the owners. However, the entity itself is still required to file an annual return and provide Schedule K-1s to its shareholders or partners.
If your return is not filed by March 15, penalties may apply. The penalty is generally assessed per owner, per month, which can add up quickly.
If you are not ready to file by March 15, an extension may be requested. An extension provides additional time to file the return; however, it does not extend the time to pay any tax due.
If you have not yet submitted your tax documents, please do so as soon as possible to avoid delays. If you have questions about your filing requirements, contact your MSA representative for assistance.