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Chapter 36. Business Taxes > Business Taxes

Business Taxes

If the business that employs you is a corporation, a corporate tax form is due each year. This is Form 1120, and it's due March 15 of each calendar year, one month prior to the due date for personal returns. Throughout the year, estimated tax payments are also due; these are payable January 15, April 15, June 15, and September 15. To pay estimated taxes, a tax coupon book must be obtained from the Internal Revenue Service (IRS). This coupon book is used to make payments for a variety of different taxes. When filled out correctly, the coupon shows the type of tax (in this case 1120), along with the particular quarter of the year for which the payment is being made. Rather than send these payments directly to the IRS, you may pay them at the bank where the company maintains its checking account.


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