What is the due date for S Corporation income tax returns?

The due date for S Corporation income tax returns is March 15. This is established by the Internal Revenue Service (IRS) guidelines for S Corporations, which must file Form 1120S. Unlike C Corporations, which operate on a calendar-year basis and have an April filing deadline, S Corporations need to file earlier.

This deadline allows S Corporations to report their income, deductions, and credits for the previous calendar year. It is important for S Corporations to meet this deadline to avoid penalties and to ensure that all shareholders can accurately report their income on their personal tax returns, as the income and losses of an S Corporation pass through to the individual shareholders.

Being aware of this deadline is crucial for tax planning and compliance for both the corporation and its shareholders.