Tax filing season is upon us both for corporations and individuals. However, they have different standards and different filing dates. Some people don’t have to file taxes at all while every ongoing corporation must. The deadlines and requirements are important to keep in mind. Companies and individuals should abide by these deadlines to avoid an audit and stay within the law.
The key date for individuals filing taxes is April 15th. However, for itemized filers, an exemption may be made to file late. Generally, that extension will delay the filing another two months to June 15th with the absolute last day as September 15th. Entrepreneurs filing personal taxes for their pass-through LLC must be aware of this filing date.
Corporate filing dates can be much later. The dates are organized by the type of corporation because of the level of complexity. S-Corporations and Partnership returns are the earliest, with a March 15th deadline and extended deadline of September 15th. In 2017, C-Corporations are due by April 17th with the extended deadline of October 16th this year. Finally, foreign bank account holders must file by April 18th this year. Corporations may also file quarterly to expedite the end of the year returns. The quarterly deadlines are the third Monday of the month following the end of the previous quarter.
Corporations may also file quarterly to expedite the end of the year returns. The quarterly deadlines are the third Monday of the month following the end of the previous quarter.
Complete Tax and Notary Services is a leading accounting firm, working with entrepreneurs as well as small and medium-sized businesses. The firm has helped many companies organize and file taxes, while at the same time preparing timely and efficient financial statements. For more information, please contact us.