If your business is taxed as a partnership (including multi-member LLCs) or an S corporation, your federal tax return is due March 17, 2025. This deadline applies to businesses filing Form 1065 (partnerships) or Form 1120-S (S corporations) on a calendar-year basis. If your business operates on a fiscal year, your tax return is due the 15th day of the third month after your fiscal year ends.
Missing this deadline can result in costly penalties. If you need more time, consider filing for an extension.
Thinking About Electing S Corporation Status?
The deadline to elect S corporation status for 2025 is March 17, 2025 — don’t miss out! Choosing S corp status can provide significant tax benefits, including potential savings on self-employment taxes and pass-through taxation, which allows profits to be taxed at the individual level rather than at the corporate level. However, there are many other factors to consider.
If you want to know if electing as an S corporation is right for your business, our team can analyze your situation to determine if it’s a beneficial move. We’ll also guide you through the process and handle the filing for you. Contact us today to get started!
Recent Win
Tax Resolution Success!
Our legal team recently helped a client navigate a complex tax issue involving a CP2000 notice from the IRS. The notice alleged underreported income from stock trading, with a proposed tax liability of $20,351. After identifying and correcting an IRS error, we reduced the liability to $0 and secured a refund for the client!
This outcome demonstrates the importance of having knowledgeable tax attorneys review IRS notices thoroughly. If you’re facing any tax issue, let us represent you. We want you to achieve the best possible result!
Need Help?
While the March 17 deadline is critical for partnerships and S corporations, individual tax returns are due by April 15. Our team is here to help with tax preparation, filing extensions, and any other tax concerns you may have.
Visit us at moskowitzllp.com or contact us at 415.394.7200 or info@moskowitzllp.com to learn more about our services or to book your appointment.
