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Federal Tax return due dates chart

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Federal tax return due dates chart

For use in complying with common federal tax return due dates.

Return type

Original due date*

Extended due date*

Individual

Form 1040

April 15

October 15. See Form 4868.

Partnership Form 1065

S corporation Form 1120S

15th day of the 3rd month after the end of the entity’s tax year; due March 15 for a calendar- year entity

Automatic extension period of six months; due September 15 for a calendar-year entity. See Form 7004.

C corporation

Form 1120

• 15th day of the 4th month after the end of the entity’s tax year (except for a June 30 fiscal-year entity); due April 15 for a calendar-year entity

• 15th day of the 3rd month after the end of the entity’s tax year for a June 30 fiscal- year entity; due September 15

Automatic extension period of six months; due October 15 for a calendar-year entity. C corporations with tax years ending June 30 are eligible for an automatic extension period of seven months (six-month extension if filing Form 1120-POL). See Form 7004.

Trust and estate

Form 1041

15th day of the 4th month after the end of the entity’s tax year; due April 15 for a calendar- year entity

Automatic extension period of 5 ½ months; due September 30 for a calendar-year entity. See Form 7004.

Estate tax return

Form 706

Due within nine months after the date of the decedent’s death

Automatic six-month extension is available. See Form 4768.

Gift tax return

Form 709

April 15 (of the year after the gift was made)

A federal income tax return extension automatically extends a gift tax return. If no extension is filed, Form 8892 provides an automatic six-month extension.

Exempt organization

Form 990 (series)

15th day of the 5th month after the end of the entity’s tax year; due May 15 for a calendar-year entity

Automatic extension period of six months; due

November 15 for a calendar-year entity. See Form 8868.

Employee benefit plan

Form 5500 (series)

• Last day of the 7th calendar month after the end of the plan’s tax year; due July 31 for a calendar-year plan

• See the Form 5500 instructions for exceptions for direct filing entities (DFEs).

One-time extension that is no later than the 15th day of the 3rd month after the return/report’s normal due date; due October 15 for a calendar-year plan. See Form 5558.

FinCEN

Form 114/FBAR

April 15

October 15. An automatic extension is available with no request for an extension required.

Information returns

• Forms W-2 and 1099-MISC (if reporting nonemployee compensation) are due

January 31, whether filing on paper or electronically.

• Forms 1097, 1098, 1099, 3921, 3922 or W-

2G are due on paper by February 28, or April 1, if filing electronically.

• Forms 5498, 5498-ESA, 5498-QA and 5498- SA are due May 31.

The extension (if available) is 30 days from the original due date. See Form 8809.

*If the due date falls on a Saturday, Sunday or legal holiday, the deadline is moved to the next business day. See the applicable form instructions for more guidance. Note that a filing extension does not extend the time to pay any taxes.
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2018 Tax planning considerations.

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Changes in tax law are here and we want to help you navigate the landscape. Contact us soon for an appointment to identify tax planning strategies to capitalize on opportunities within the new law.

Did you know?

  • Due to the increase in the standard deduction and changes in itemized deductions, it is more important than ever to consider the timing of deductible expenses.
  • The child tax credit increased to $2,000 per qualifying child. Plus, more people will qualify for this credit since the threshold at which the credit is phased out is increased to $400,000 for married taxpayers ($200,000 for other taxpayers).
  • There is a new $500 credit for dependents who do not qualify for the child tax credit.
  • For divorces finalized after 2018, alimony payments will no longer be taxable to the recipient and no longer deductible to the payer.
  • There are now limitations on the ability to unwind Roth IRA contributions.
  • With an increased estate exemption, a discussion about the appropriateness of your current estate plan would be valuable.
  • There is a new deduction for business income. The calculation and limitations are complex, but we can help you.
  • With the decrease in tax rate for corporations, now may be the time to consider a change in the structure of your business.
  • Expenses for entertainment are no longer deductible.
  • Bonus depreciation and Sec. 179 expensing have been expanded for purchases of equipment and improvement property.
  • More businesses will qualify to use the cash method of accounting; businesses with $25 million or less in gross receipts are eligible.

Internal Control Assessment

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There is a direct relationship between strong internal controls and the health and success of your business.  Simply, the weaker the internal controls the more vulnerable your business is subject to theft and fraud.  Strong internal controls help safeguard your business assets, ensure reliable financial reporting, maintain regulatory compliance, and accomplish operational efficiency.  Strong internal control requires careful examination of your business’ organizational structure and operations.

To learn more about implementing, strengthening, or assessing your business’s internal controls please contact us for a Free Consultation.

Accounting Software Selection

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There is an abundance of accounting software options available to small businesses and individuals today.  However, knowing which program will best accommodate your business needs and inherent uniqueness require lots of research. The reality is some packages are better equipped to service some industries better than others, thus selecting a software program to successfully and seamlessly run your business is a large undertaking that requires expertise.

As accounting professionals with experience in a variety of industries we are exposed to various accounting solutions, so we can help you choose and implement the system that best fits your unique situation.

To learn more about selecting the right accounting software package for your business please contact us for a Free Consultation.

Business Entity Selection

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Choosing the type of entity of your business, for example, sole proprietor, LLC, S or C corporation, etc.) is a crucial decision that can have longstanding tax implications, positive or negative. We can assist you in evaluating the pros and cons of each entity type to help you determine the most advantageous form of business for your company.

To learn more about selecting the right entity form for your business please contact us for a Free Consultation.

Business Valuations

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Business valuation is process of evaluating a business’s past, present, and potential existence with the goal of assigning an estimated economic value.  A business valuation is very subjective and far from being an exact science.  It requires an objective professional who can gather and measure relevant financial and non-financial information to properly defend and support a valuation conclusion.

If you are planning to sell your business, seek debt financing, sell your interest in a business, add a shareholder or partner, marital disolution, estate planning, etc. you will need a business valuation.  At, Venner & Associates we have a variety of experienced professionals who are well positioned to assist you with a sound valuation of your business.

To learn more about our business valuation approach please contact us for a Free Consultation.

 

Tax Problems – IRS Representation

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We’re here to help you resolve your tax problems and put an end to the misery that the IRS can put you through. We pride ourselves on being very efficient, affordable, and of course, extremely discrete. The IRS problems will not just go away by themselves; they just keep getting worse with penalties and interest being added each day.

If you owe the IRS, you have a very serious problem. It may take the IRS several years to catch up to you, but they’re relentless and have no mercy in collecting all the money that is owed.  We will work with you to first assess your situation and provide you with expert advice in resolving it both timely and thoroughly.

To learn more about tax reresentation or resolving IRS problems please contact us for a Free Consultation.

 

Tax Planning

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Mitigating your tax burden is always a core goal. This is best achieved through comprehensive tax planning.  We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income.  We are committed to enhancing our knowledge of the current tax law, complex tax code, and new tax regulations by attending frequent tax seminars.  

To learn more about our tax planning strategies please contact us for a Free Consultation.

 

Tax Preparation

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Today’s tax laws are so complicated that filing a relatively simple return can be confusing. For an untrained eye, it is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there’s no substitute for the assistance of an experienced tax professional.  Our tax preparation service include the following:

  • Your tax return will be checked and rechecked by our computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS audits.
  • Your tax return can be filed electronically so you will get a refund back quicker.
  • We will show you potential deductions to limit your tax liability for next year.

We pledge to provide you with quality, up-to-date tax return preparation and advice.

To learn more about our tax preparation services please contact us for a Free Consultation.

 

Cash Flow Management

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Simply put, cash flow is to your business as blood flow is to your body!  Understanding and managing the cash flow of you business is critical to your business’s success.   It’s important to keep a schedule that governs your monthly cash flow.  A schedule that made it simple and easy to know exactly what was going on with the lifeblood of your business.  You need an easy-to-understand view of each component of your business that affects your cash flow.

Our cash management service allows you to…

  • know when, where, and how your cash needs will occur.
  • know what the best sources are for meeting your additional cash needs.
  • be prepared to meet these needs when they occur, by keeping good relationships with bankers and other creditors.

To learn more about how we can help you manage your cash flows please contact us for a Free Consultation.