It’s hard to believe we are well into March and opening day is next week.
A large focus of our content this month has been about important dates for tax filing and extensions. We’ll review one of the last deadlines from the first quarter of the tax year and the deadlines you’ll need to know as we enter the second quarter of the tax year (April – June).
Grab a pencil and your calendar as we review what dates you should circle!
March 15th, 2019
Deadline for filing:
– 2018 S Corporations Returns (Form 1120-S)
– Partnership Returns (K-1/Form 1065).
– Requesting a 6-month extension (Form 7004)
S Corporation election:
March 15th was also the deadline to elect to become an S Corporation for the 2019 calendar year (Form 2553).
I missed the March 15th deadline, now what?
You’ll be subject to a late filing penalty fee, which could cost you a few hundred or even thousands of dollars depending on how quickly you act. The more months that go by, the larger the fee.
April 1st, 2019
Deadline for filing the following forms electronically for 2018
repeat: only if filing electronically!:
– Bond Tax Credit (Form 1097)
– Mortgage Interest Statement (Form 1098)
– Miscellaneous Income (Form 1099)
– Exercise of an Incentive Stock Option (Form 3921)
– Transfer of Stock Acquired Through an Employee Purchase Plan (Form 3922)
– Certain Gambling Winnings (Form W-2G)
April 15th, 2019 – the one you all know!
Deadline for filing:
– Individual Returns (Form 1040)
– C Corporations Returns (Form 1120)
It is also the deadline for:
Requesting a 6-month extension (Form 4868)
– Paying the 1st installment of 2019 estimated tax payments
(Individuals – Form 1040-ES)
(C Corporations – Form 1120-W)
As you can see, there are more dates to keep in mind than just April 15th. It’s important that you remember these dates to ensure returns and extensions are filed on time to avoid penalties and added stressed.
Forgot to request an extension and don’t know where to begin? Give us a call today!
Keith
