Ben Franklin once wrote “in this world nothing can be said to be certain, except death and taxes.”
While death and taxes can both be classified as “certainties,” the first will only occur once, while the second happens every year with consistency. We are not actuaries, so we can’t weigh in on first “certainty,” but we can help manage the various deadlines associates with the second.
By early March, you should be receiving most of the tax related forms (W-4s and 1099s) needed to file your 2016 personal returns. To help you organize the process, we have provided serval important tax filing deadlines below. Other important tax dates can be found here: https://www.irs.com/articles/2017-federal-tax-calendar.
Returns are due for pass-through entities such as Partnerships (Form 1065 and K-1s) and S Corporations (Form 1120S and K-1s). A 6-month extension can be requested using Form 7004.
Individuals file a 2016 income tax return (Form 1040, 1040A, or 1040EZ) and pay any tax due. Form 4868 can be used to extend your filing deadline to October 16, 2017.
Corporations file a 2016 income tax return (Form 1120) and pay any tax due. Form 7004 can be used to request a 6-month extension.
Trusts file a 2016 income tax return (Form 1041) and pay any tax due. Form 7004 can be used to request a 5 ½-month extension.
Tax-exempt organizations file Form 990 or request 6-month extension.
Partnerships and S Corporations that filed for 6-month extensions must file their final tax return and issue K-1s by this date.
Trusts that filed for extensions must file their final tax return by this date.
Individuals who requested a 6-month tax extension must file their 2016 income tax returns (Form 1040, 1040A, or 1040EZ) and pay any tax due by this date.
Corporations who requested a 6-month tax extension must file their 2016 income tax returns (Form 1120) and pay any tax due by this date.
As always, feel free to reach out of you have any questions.
* Why is Tax Day April 18? The regular tax return filing deadline is April 15. However, due to April 15 being on a Saturday and the Washington D.C. Emancipation Day holiday being observed on April 17 instead of April 16, 2017, Tax Day is on the following Tuesday.