Key Takeaways

  • The due date for an LLC tax return depends on how the LLC is taxed — as a sole proprietorship, partnership, S corporation, or C corporation.
  • Most single-member LLCs file by April 15, while multi-member LLCs filing as partnerships must file by March 15.
  • LLCs electing S corp status also file by March 15, while those taxed as C corps generally file by the 15th day of the 4th month after their tax year ends.
  • If a due date falls on a weekend or federal holiday, the deadline is extended to the next business day.
  • Filing extensions are available but taxes owed must still be paid by the original deadline to avoid penalties and interest.

The LLC filing date is different for different business structures. It is crucial that you know when you should pay your business taxes on time every year to avoid fines and penalties.

How Tax Return Due Dates are Determined Each Year

When the tax date happens on a weekend or a holiday, the due date will be moved to the next following business day. So, if tax day is on a Sunday, you will not have to file until the following Monday. Tax day is always on April 15th of every year. In the year 2018, the due dates for all tax returns, both personal and business, is on a Sunday. The next Monday is a holiday, so you do not have to file until Tuesday April 17th.

Understanding Key Filing Dates and How They Change

The IRS tax filing schedule for LLCs can shift slightly each year based on weekends and federal holidays. The core principle remains the same: taxes are due on the date specified by the IRS unless that date falls on a non-business day, in which case the deadline moves to the next business day.

For example, if April 15 (the typical due date for most LLC tax returns) falls on a Saturday, the filing deadline will shift to the following Monday. If that Monday happens to be a holiday, the deadline shifts again to the next regular business day.

It’s also important to note that LLCs using a fiscal year rather than a calendar year must calculate their due date based on their chosen fiscal year end. For instance, if your fiscal year ends on June 30, your tax return would be due on the 15th day of the fourth month after that — typically October 15.

Filing Deadlines for Each Business Entities

The IRS requires that all businesses pay taxes by the filing deadline. LLCs do not have a separate filing deadline, unlike other business entities. The filing deadline will depend on the type of business you choose with regard to taxes.

  • Corporations: If you treat your LLC like a corporation for the sake of taxation, you will need to file IRS Form 1120 by the due date annually. The due date will be the 15th day of the third month after the end of the tax year. You will need to choose to use a fiscal or calendar tax year when filing your business’ tax return for the first time. The calendar year requires that you report all of the income and expenses from January 1st to December 31st. A fiscal year is any 12-month range that ends on any other date than December 31st. So, if your LLC forms in July and you choose a calendar year for tax purposes, you can do a short-year tax return from July to December and then file by March of the following year. After that, your taxes will be due in March for coverage for the prior calendar year.
  • Partnerships: An LLC that abides by partnership rules for taxation has to conform the tax year and the accounting period that all majority owner LLC members use. If the majority does not have accounting periods that are identical, the LLC has to use the time period that is used by the principal partners. A principal partner is a member in the LLC that has over 5-percent interest in the capital or profits of the LLC. If both of these rules are not applicable, LLCs have to use an accounting period that causes the least amount of deferral of cash to all members. The LLC has to file IRS Form 1065 by the 15th day of the fourth month after the end of the tax year. As an example, if one rule has the LLC use a tax year of July 1 through June 31, you need to file and pay taxes by October 15th of each year.
  • Disregarded Entity: The business entity is disregarded for taxation purposes if you are the sole member of the LLC. Disregarding the LLC means that you have to include all the income and the expenses on your personal income tax return. That simply means you will file your business taxes when you file your personal taxes, which is April 15th every year.
  • Changing the Tax Year: you can opt to change the tax year for your LLC that is treated like a partnership or a corporation for taxation purposes by applying using Form 1128. Individual tax payers may not make this request.

LLC Tax Deadlines by Structure

Knowing when is LLC tax return due depends entirely on the tax classification your LLC has chosen with the IRS. Here’s a breakdown of the most common scenarios:

  • Single-Member LLC (Disregarded Entity): Treated as a sole proprietorship, taxes are reported on the owner’s personal income tax return (Form 1040, Schedule C). The deadline is April 15 each year.
  • Multi-Member LLC (Partnership): Must file Form 1065 by March 15. Each member also receives a Schedule K-1 to report their share of income or loss on their personal return.
  • LLC Taxed as an S Corporation: Must file Form 1120-S by March 15. Shareholders receive a Schedule K-1 for their individual returns.
  • LLC Taxed as a C Corporation: Must file Form 1120 by the 15th day of the fourth month after the end of its tax year. For calendar-year filers, this is typically April 15.

Pro Tip: Even if you apply for an extension, you must still pay any taxes owed by the original due date. Extensions only give you more time to file, not to pay

Forms Used by Sole Proprietors

Sole proprietors will report all business income on their personal income tax returns, IRS Form 1040. Typically, you will need to file a Schedule C with your 1040 each year to report your income and deductions from your business. Sole proprietors also have to file the Schedule SE with the 1040. There could be additional forms and schedules you need to prepare, which will depend on the nature of your business.

  • Due Date: Most all sole proprietors will follow a calendar year for tax payment purposes. The filing date is April 15th every year, unless the date falls on a weekend or holiday.
  • Filing Extension: You can request a six-month extension to file your taxes. You will need to file Form 4868 for an automatic extension. This needs to be completed by the original filing deadline. You will need to pay any taxes you estimate that will be due by the original deadline. If you don’t, there is a risk of paying interest and penalties. The return will be due by October 15th unless it is a weekend or holiday.

Extensions, Penalties, and Tips for On-Time Filing

If you cannot file by the original deadline, you can request an automatic six-month extension. Use Form 4868 for single-member LLCs and Form 7004 for partnerships, S corps, or C corps.

However, remember that extensions do not delay tax payments. Any taxes owed must be estimated and paid by the original due date. Failure to do so may result in:

  • Late filing penalty: Typically 5% of the unpaid tax per month (up to 25%).
  • Late payment penalty: 0.5% per month on the unpaid balance.
  • Interest: Charged on unpaid taxes from the due date until payment.

To stay compliant and avoid penalties, consider these best practices:

  • Set reminders at least 30 days before your filing deadline.
  • Work with a tax professional if your LLC has complex income or multiple members.
  • File early if you anticipate owing taxes to avoid last-minute issues.

Frequently Asked Questions

  1. When is LLC tax return due for a single-member LLC?
    Typically, the due date is April 15 since the LLC’s income is reported on the owner’s personal tax return.
  2. What is the deadline for a multi-member LLC?
    Multi-member LLCs treated as partnerships must file Form 1065 by March 15 each year.
  3. Can an LLC file for an extension?
    Yes. LLCs can request a six-month extension using Form 4868 (for single-member LLCs) or Form 7004 (for partnerships, S corps, and C corps).
  4. What happens if I miss the LLC tax filing deadline?
    You may face penalties, including up to 25% of the unpaid tax, and interest will accrue until the balance is paid.
  5. Are estimated quarterly payments required for LLCs?
    Yes, many LLC owners must pay quarterly estimated taxes (typically due April 15, June 15, September 15, and January 15) to avoid underpayment penalties

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