Tax Filing Deadline Extended (C Corporations)
C Corporations are required to file their tax returns in April using Form 1120. Extensions are possible, moving the date out to October 15.
Business
Tax Filing Deadline Extended (C Corporations)
C Corporations are required to file their tax returns in April using Form 1120. Extensions are possible, moving the date out to October 15.
Tax Filing Deadline (Extended) – Business
Businesses such as partnerships, multi-member LLCs, and S-Corporations must file their taxes in March to ensure timely distribution of tax forms. They typically submit Form 1065 or 1120S, with an option to extend the deadline to September 15.
Tax Filing Deadline (Extended) – Business
Businesses such as partnerships, multi-member LLCs, and S-Corporations have the option to extend the filing deadline to September 15.
Tax Filing Deadline (C Corporations)
C Corporations are required to file their tax returns in April using Form 1120. Extensions are possible, moving the date out to October 15.
Tax Filing Deadline (Business)
Businesses like partnerships, multi-member LLCs, and S-Corporations must file their taxes in March, allowing time to send out required tax forms. Forms 1065 or 1120S are typically used for this purpose.
Payroll Records are Due
Businesses are required to submit payroll records such as W-2, W-3, and 1099 forms. Copies of W-2 and W-3 should be sent to the Social Security Administration, while employees must receive copies of the W-2. Employers are mandated to e-file returns when submitting 10 or more informational returns. Additional details can be found in Topic no. 752.
Perpetual Inventory and Periodic Inventory
Two accounting methods, Perpetual and Periodic Inventory Systems, are used to record inventory-related transactions. Each method has different approaches to recording transactions including purchase, returns, discounts, and sales, affecting the treatment of inventory and related expenses on financial statements.
5 Key Signs Your Tax Preparer May Be Scamming You
The increase in tax return filings has led to a rise in tax preparer fraud, affecting vulnerable individuals. To prevent fraud, seek professional, licensed tax preparers who are transparent and encourage client involvement. To that end, here are five signs that you may want to check on your return (or find a new preparer).
Small Business Tax Tips — Document Your Deposits
Small businesses should meticulously document the origin behind all bank deposits including both business and non-business deposits as defense against an IRS audit of business income.