Hi there,

It’s time for a quick refresher on key 2024 deadlines, including a few that are easy to overlook. 

April 15, 2025:

• Individual tax returns 
• C-Corp returns, even if you had zero income or a loss
• Single-Member LLC returns 
• Quarterly Estimated Taxes (Q1 2024) — due if you:
  • Are self-employed, a freelancer, or contractor
  • Receive significant bonuses, RSUs, stock options, or other equity compensation
  • Consistently owe when you file – if you owed for 2024 and expect to owe again, the IRS requires you to either adjust your withholding or make estimated payments. Penalties apply if you miss this.

March 17, 2025:

• S-Corp tax returns (Form 1120-S)
• Multi-Member LLC returns (Form 1065)
  This deadline often catches newer business owners by surprise and the penalties can be steep (typically around $220 per member per month for late filings), so it’s crucial not to miss it. Remember, this deadline applies even if your business lost money 

📝 Important Notes

• If you own any business entity — whether it’s an LLC, S-Corp, or C-Corp — you generally need to file, even if the business had no activity or operated at a loss.
• Delaware entities: If your business is registered in Delaware, your annual report and franchise tax are due by March 1, 2025.
• California LLCs: If your LLC is registered in California, you must also file Form 568 along with your federal return (even if your LLC had no activity or a loss). You must also file your statement of information with the state every two years. 
• NY LLCs: If your LLC is registered in NY, you must also file Form IT 204 LL along with your federal return (even if your LLC had no activity or a loss). You must also file your biennial statement every two years to maintain good standing with the state.
• Texas LLCs: All LLCs in registered in Texas must file a Texas Franchise Tax Report by May 15, 2025. This applies even if your LLC had no income or business activity.
• All Florida LLCs must file an Annual Report with the state by May 1, 2025, even if there was no income or activity. Missing this deadline results in a $400 late penalty.
• All DC LLCs must file a Biennial Report every 2 years (due April 1 for many). LLCs with DC-source income must also file a DC Form D-30 annually, even if the business had no profit. Similar reports are required for MD and VA.
• All businesses registered in Washington state must file a B&O Tax Return, even if there was no income or activity. A separate annual report is also required. Deadlines and details vary on individual situation.
• All MA LLCs must file a separate Annual Report, even if there was no income or activity. Missing this report results in late fees and could eventually lead to administrative dissolution.
• All Colorado LLCs must file a separate Periodic Report each year, even if there was no income or activity. Missing this deadline can lead to late fees and the LLC being marked Delinquent, which can lead to dissolution.

Want a Quick List of Last-Minute Deductions?

If you’d like an updated checklist of deductions, some of which you can still claim for 2024, just reply to this email and I’ll send it over.

Time is Running Out

If you need help filing your personal or business return, or handling your 2025 quarterly estimates, please submit the form below by the end of the week so we can make sure your filings are handled on time. Our availability and rates may change as we get closer to the deadlines.

If you’re already squared away for both your 2024 return and your 2025 estimated payments, thank you for reading!

Contact Information

George Dimov, CPA
📞 (833) 829-1120
🌐 www.dimovtax.com