January 13, 2014, is the first day the IRS will begin accepting 2013 business tax returns – filed electronically or filed on paper – the agency announced.
According to the IRS, business returns include any return that posts on the IRS Business Master File (BMF). BMF returns include the following income tax and information returns:
- Form 1120, US Corporation Income Tax Return
- Form 1120S, US Income Tax Return for an S Corporation
- Form 1065, US Return of Partnership Income
- Form 1041, US Income Tax Return for Estates and Trusts
- Form 720, Quarterly Federal Excise Tax Return
- Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return
- Form 941, Employer’s Quarterly Federal Tax Return
- Form 2290, Heavy Highway Vehicle Use Tax Return
Returns for Form 1120 and 1120S are usually due on March 15, but because March 15 falls on a Saturday in 2014, the due date is expected to be March 17.
The January 13 start date does not apply to unincorporated small businesses that report their income on Form 1040, US Individual Income Tax Return. The IRS announced last week that the start date for all Form 1040 filers is January 31.
“Although the IRS encourages these small businesses to begin preparing their returns now, it will not be able to accept these or any other individual returns or begin processing them until January 31,” the IRS noted. “This includes sole proprietors who file a Schedule C, landlords who file a Schedule E, and farmers who file a Schedule F.”