Whether it’s your first year filing 1099s or you’re a seasoned pro, it’s always a good idea to refresh your knowledge and ensure you’re keeping up with the ever-changing requirements.
SO, WHAT IS A 1099?
Your Form 1040, or individual tax return, is due. You can file Form 4868 for an automatic 6-month extension to file your return, but your tax payment is still due on April 15th. Failing to pay your taxes owed by this date can result in penalties and interest.
If you’re required to pay estimated taxes, your first quarter 2025 estimated tax payment is due on April 15th.
Depending on your state, you may also have state tax payments due.
C Corporations:
For calendar-year C corporations, Form 1120 is due along with the payment of any balance due. You can file Form 7004 for an automatic 6-month extension to file your return.
If your corporation is required to make estimated tax payments, your first quarter 2025 estimated tax payment is due on April 15th.
