April 2021 | Important Dates & What's New
Happy April! Here are some of the important dates and updates you might want to know.
April is a big month for businesses, with many annual and Q1 deadlines. Here are the major deadlines that might be applicable to you and your business.
April 15, 2021
Estimated Tax Payments for Q1 — IRS
C-Corp Income Tax Returns (Form 1120) — IRS
Annual DOR Filers: Excise Tax Return — DOR
Annual City of Bellingham Filers: B&O Tax Return — City of Bellingham
April 25, 2021
Monthly DOR Filers: Excise Tax Return — DOR
Monthly City of Bellingham Filers: B&O Tax Return — City of Bellingham
April 30, 2021
Employer's Quarterly Federal Tax Return (Form 941) for Q1 — IRS
State Unemployment Insurance (SUI) Report and Payment for Q1— ESD
Paid Family & Medical Leave Report for Payment for Q1 — Paid Leave
L&I Report and Payment for Q1 — L&I
Quarterly DOR Filers: Excise Tax Return for Q1 — DOR
Quarterly City of Bellingham Filers: B&O Tax Return — City of Bellingham
However, every business is different, so it's important to make sure to talk with your accountant or bookkeeper about your tax and filing requirements. If you need help filing your annual, quarterly, and monthly business taxes, we can help! We've got a team of bookkeepers who are experienced in a wide range of industries. Give us a call at (360) 756-5020 to see how we can help you with your tax reporting responsibilities.
In addition to the the deadlines this month, there are also a few Covid-19 grants, credits, and extensions that might be useful for you to know about!
Working Washington Grants: Round 4
Available March 29, 2021-April 9, 2021. Learn More: commercegrants.com
A fourth round of grants are available to help small for-profit businesses with priority for those who were required to close, lost revenue as a result of closure, added expenses to maintain safe operations.
PPP Loan Deadline Extended
Available until May 31, 2021. Learn More: https://www.sba.gov/ppp
Biden signed a law that extends the deadline to apply for a PPP loan from March 31, 2021 to May 31, 2021. Both first draw and second draw PPP loans are available for eligible businesses.
Updated Guidance on the Employee Retention Credit
The IRS has provided updated guidance on the Employee Retention Credit and how it interacts with those who received a loan from the Paycheck Protection Program. For more information, you can read IRS Notice 2021-20 here: Guidance on the Employee Retention Credit under Section 2301 of the Coronavirus Aid, Relief, and Economic Security Act [PDF] Additional Guidance on how to claim the credit for the first two quarters of 2021 can be found in IRS Notice 2021-23.
Shuttered Venue Operators Grant (SVOG)
Available Starting April 8, 2021. Learn More: https://www.svograntportal.sba.gov/s/
A new grant administered by the SBA targets shuttered venues due to COVID-19. Eligible entities for the SVOG include live venue operators or promoters, theatrical producers, relevant museum operators, zoos and aquariums who meet specific criteria, motion picture operators, talent representatives, and more.
If you are eligible for multiple SBA relief options, here are some criteria that must be met when considering to apply: