S-Corp Tax Filing Deadlines (2025): A Crisp Guide for Beancount Users

Filing taxes for your S-corporation involves a few key deadlines that you can't afford to miss. Staying on top of them prevents costly penalties and keeps your financial records clean. Here’s the short, accountant-friendly version of what to file, when it’s due, what happens if you’re late—and how to keep it all tidy in your Beancount ledger.

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The Big Dates (for Calendar-Year S-Corps) 🗓️

For most S-corps operating on a standard calendar year, there are two primary dates to remember for your annual tax return, Form 1120-S.

• Return Due Date: The deadline to file is Monday, March 17, 2025. The official due date is always the 15th day of the 3rd month after the tax year ends (March 15), but because that date falls on a Saturday in 2025, the IRS "next business day" rule pushes the deadline to Monday.
• If You Need More Time: You can get an automatic 6-month extension by filing Form 7004 on or before the original March 17 deadline. This moves your filing due date to September 15, 2025. Remember, this is an extension to file, not an extension to pay any taxes owed.

Note for other filers: If you use a fiscal year, your return is due by the 15th day of the 3rd month after your tax year concludes. If your S-corp was dissolved, the final return is generally due by the 15th day of the 3rd month after the dissolution date.

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What You Must Send to Shareholders

A core responsibility of an S-corp is to report each shareholder's portion of the company's income, deductions, and credits.

You must furnish a Schedule K-1 to every shareholder by the same day your Form 1120-S is due. This applies whether you file by the original deadline or an extended one. The K-1 provides the information shareholders need to file their personal tax returns.

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Penalties You Actually Care About

The IRS imposes significant penalties for failing to file on time, so it pays to be punctual.

• Late 1120-S: The penalty is $245 per month (or part of a month) for each shareholder**, for up to 12 months. If your 2024 return (filed in 2025) is **60 or more days late**, the minimum penalty increases to the smaller of the tax due or **$510.
• Late/Incorrect K-1s: Failing to furnish correct K-1s on time carries a penalty of $330 per schedule. If the failure is due to intentional disregard, the penalty can double or be 10% of the amounts required to be reported, whichever is greater.
• Failure to Pay: Even if you file an extension with Form 7004, interest accrues on any tax due from the original March deadline. While most S-corps don't owe federal income tax, some can face corporate-level taxes in special situations.

If you get hit with a penalty, don't just pay it immediately. Check the IRS’s options for administrative penalty relief, such as first-time abatement or showing you had reasonable cause for the delay.

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Corporate-Level Estimated Taxes (Edge Cases)

While S-corps are pass-through entities, they can sometimes owe entity-level taxes on things like built-in gains or excess net passive income. If your S-corp is expected to owe more than $500 for these taxes, you must make quarterly estimated tax payments.

For the 2025 calendar year, these installments are due on:

• April 15, 2025
• June 16, 2025 (June 15 is a Sunday)
• September 15, 2025
• December 15, 2025

Payments should be made through the Electronic Federal Tax Payment System (EFTPS).

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Beancount Setup: Keep Filings and Payments Obvious

Use your ledger to create a clear audit trail of your tax compliance activities.

Starter Accounts

Assets:Bank:Operating
Assets:PrepaidTax:Federal      ; For extension/estimate payments
Expenses:Tax:Federal:S-Corp    ; For corporate-level tax owed
Liabilities:Tax:Federal:Payable
Equity:Distributions
Income:Sales

Mark the Filing and K-1 Handoff

Use note transactions to timestamp key compliance actions.

2025-03-10 note "Prepared 2024 Form 1120-S; K-1s ready for distribution."
2025-03-17 note "E-filed 2024 Form 1120-S; furnished all shareholder K-1s."

Recording an Extension

If you file for an extension without a payment (the common case):

2025-03-17 note "Filed Form 7004 to extend 2024 1120-S to 2025-09-15."

If you make an estimated payment with your extension (rare for S-corps):

2025-03-17 * "2024 1120-S extension payment (estimate)"
  Assets:Bank:Operating      -2000 USD
  Assets:PrepaidTax:Federal   2000 USD

Recording a Final Tax Payment

If you end up owing corporate-level tax when you file:

2025-09-15 * "Settle 2024 S-corp tax due with return"
  Assets:PrepaidTax:Federal      -2000 USD
  Expenses:Tax:Federal:S-Corp     2000 USD

Useful bean-query Checks

Verify your actions with simple queries.

• Confirm you recorded the K-1 handoff:

  SELECT date, narration WHERE narration ~ "K-1s";

• See all federal tax cash movements this year:

  SELECT SUM(position) WHERE account ~ "Tax:Federal|PrepaidTax:Federal" AND year = 2025;

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Quick Checklist ✅

• Put March 17, 2025, on your calendar to file Form 1120-S, or file Form 7004 by that date to get an extension.
• Furnish Schedule K-1s to all shareholders by the same day you file your return (original or extended).
• If applicable, schedule quarterly estimated payments for any corporate-level taxes.
• Take deadlines seriously to avoid penalties, but seek penalty relief if something unavoidable slips through.

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This guide provides general information and is not a substitute for professional tax advice. Consult with a qualified CPA to address your specific financial situation.