March Update: Key Actions and Tax Deadlines

Upcoming Tax Deadlines

March 16, 2026

• Deadline for S-corporations and Partnerships (Form 1065) to file 2025 returns

April 15, 2026

• Deadline to file 2025 federal income tax returns, pay any tax owed

• Last day to contribute to IRAs/HSAs for the 2025 tax year

• Deadline for C-corporations (Form 1120) to file 2025 returns

• First estimated tax payment due for 2026. This first payment applies to income earned from January 1 through March 31, 2026.

• Deadline to file an extension, if needed by submitting Form 4868 to the IRS. You must estimate your tax liability and pay any amount owed by the original deadline. An extension gives you more time to file, not more time to pay.

Key Actions

As we get into March, we enter the middle of tax season, and this is a critical checkpoint for your business. Here are some key actions to take now:

• Confirm if you have any open To-Dos with your bookkeeper. 

  • This could be a need for statements, receipts, supporting documents for loans, questions related to fixed asset purchases, or personally paid expenses for your business.

• Confirm that all your bank, credit card and loan accounts have been reconciled. 

  • If you have an accounting program with A Bigger Bottom Line and we have your statements, we will ensure that your accounts are reconciled before drafting financial reports.

• Review and approve your draft year-end financials. 

  • If you have a program with A Bigger Bottom Line, you will have received a set of draft year-end financials to confirm by this time. Remember, your financials could change after you review them with your CPA.

• Confirm who will be filing your Tax Return and/or if an Extension is needed.

• Confirm if your approved year-end draft financials have been sent to your CPA or tax preparer

  • As a client of A Bigger Bottom Line, if we have your CPA or Tax preparer’s information and you have signed off on your set of draft financials, we will forward your signed set securely to your tax preparer. However, you may still be required to upload your financials and other needed documents to your tax preparer’s portal (such as Tax Dome, Canopy, etc.)

• Gather and download your documents. 

  • If you are a client of A Bigger Bottom Line, check your Qount Client Portal #Documents for information we’ve been gathering for you all year that may now need to be given to your CPA or tax preparer, such as:

    • 1099s, W2s, prior year return, quarterly estimated payment confirmations, bank and credit card statements, payroll reports, mortgage interest statements, and records of major purchases or charitable contributions

• Confirm your CPA/ Tax Preparer has all the information they need to begin tax prep. 

• Approve your Tax Return to be filed.

• Share your filed Tax Return with your bookkeeper.

  • If you are a client of A Bigger Bottom Line, ensure that you upload your completed Tax Return to our client portal in Qount or forward to your Hubdoc account for our review.

• Make sure your bookkeeper updates your financials to tie out to your Tax Return.

  • As a client of A Bigger Bottom Line, our bookkeeping team will make any adjusting entries to your financials that are reflected on your completed Tax Return. We will note any major differences in our meetings together.

• Review the FINAL financials after your Tax Return has been filed and tied out to your books.

  • As a client of A Bigger Bottom Line, we will create a FINAL set of financials and deliver them to you after we have done the tax return tie-out. This way, your Tax Return and financial statement will be in alignment. Any major differences can be commented on in the portal or reviewed in one of your meetings.

• Review your January and February profit and cash flow

• Set aside funds for taxes and build your cash reserve

• Schedule a proactive tax planning meeting for the rest of the year

Final Thoughts from the Founder

March is a reset moment. Tax season forces you to look at your numbers. Use that clarity. What worked so far in Q1? What did not? Where did cash feel tight? Where were you profitable? As you move into Q2 in April, focus on clean books, consistent expense reporting, and proactive planning. That is how you reduce stress, protect profit, and grow with confidence.

Now is the time to close out last year’s books, finalize your tax planning strategies, and get your return filed before the deadline.

If you have questions, please do not hesitate to reach out. This is a busy time for both business owners and accountants, so we encourage you to schedule your time now if you need support.