Partnerships. File a 2022 calendar year return (Form 1065). Provide each partner with a copy of their Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc., or substitute Schedule K-1 (Form 1065), and, if applicable, Schedule K-3 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc.—International, or substitute Schedule K-3 (Form 1065).
To request an automatic 6-month extension of time to file the return, file Form 7004. Then, file the return and provide each partner with a copy of their final or amended (if required) Schedule K-1 (Form 1065) and, if applicable, Schedule K-3 (Form 1065) by September 15.
S Corporations. File a 2022 calendar year income tax return (Form 1120-S) and pay any tax due. Provide each shareholder with a copy of their Schedule K-1 (Form 1120-S), Shareholder’s Share of Income, Deductions, Credits, etc., or substitute Schedule K-1 (Form 1120-S), and, if applicable, Schedule K-3 (Form 1120-S), Shareholder’s Share of Income, Deductions, Credits, etc.—International, or substitute Schedule K-3 (Form 1120-S).
To request an automatic 6-month extension of time to file the return, file Form 7004 and deposit what you estimate you owe in tax. Then, file the return; pay any tax, interest, and penalties due; and provide each shareholder with a copy of their Schedule K-1 (Form 1120-S) and, if applicable, Schedule K-3 (Form 1120-S) by September 15.
S Corporation election. File Form 2553 to elect to be treated as an S corporation beginning with calendar year 2023. If Form 2553 is filed late, S corporation treatment will begin with calendar year 2024.
Social security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments made in February.
Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments made in February.
The articles in this blog are published with the understanding that the authors are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use.
