Business Tax Alert: The March 16 Deadline (Not April!) for Ontario, California S-Corps
Quick Answer: Many business owners in the Inland Empire assume their taxes are due on "Tax Day" (April 15). This is incorrect for most businesses. If you own an S-Corporation (Form 1120-S) or a Partnership (Form 1065), your Federal and California State tax returns are due on March 16, 2026.
The Cost of Missing March 16 The IRS does not take this deadline lightly. The penalty for filing a late S-Corp or Partnership return is currently $255 per month, per shareholder/partner.
Example: A 2-partner business that files 5 months late could owe over $2,550 in automatic penalties—even if the business owes zero taxes!
Why is the Business Deadline Early? The IRS requires "Pass-Through Entities" (like S-Corps and Partnerships) to file first so that they can issue Schedule K-1s to the owners. You need that K-1 to file your personal return in April. If the business return isn't done, your personal return is stuck in limbo.
"I'm Not Ready!" (The Extension Option) If your books aren't ready by March 16, Meza CPAs can file a Form 7004 Extension for you. This grants you an automatic 6-month extension to file the paperwork.
Critical Note: An extension to file is NOT an extension to pay. If your business owes taxes (like the $800 CA Franchise Tax), you must estimate and pay that amount by March 16 to avoid interest.
Don't Wait Until March Our filing schedule at Meza CPAs fills up rapidly in late February. If you need to file an S-Corp or Partnership return, or just need an extension filed correctly, contact us today.
