URGENT NEW FILING DEADLINES FOR PARTNERSHIPS AND C CORPS
Partnerships (NEW DEADLINE)
New deadline for calendar-year Partnerships to file annual tax returns (Form 1065) is March 15 and the 15th day of the third month following the close of the fiscal year (for fiscal-year partnerships). (Previously, these returns are due on April 15, for calendar-year partnerships.).
S Corporations: Deadline for calendar-year S Corporations to file annual tax returns using Form 1120-S or request a six-month filing extension and pay any tax due.
Individuals: File a 2016 income tax return (Form 1040, 1040A, or 1040EZ) and pay any tax due. An automatic 6-month extension of time to file through October 16, 2017.
Household Employers: If you paid cash wages of $1,900 or more to a household employee in 2016, you must file Schedule H (Household Employment Taxes) of Form 1040. If you are required to file a Federal income tax return (Form 1040), include Schedule H with your return and report any household employment taxes. If you paid total cash wages of $1,000 or more to household employees in any calendar quarter of 2015 or 2016, you must report any Federal Unemployment (FUTA) tax on Schedule H. Also report any income tax you withheld for your household employees. For more information, refer to IRS Publication 926.
C Corporations (NEW DEADLINE): File a 2016 income tax return (Form 1120) and pay any tax due. For C corporations, the new due date is the 15th day of the fourth month following the close of the corporation’s year. (Previously, these returns are due on the 15th day of the third month following the close of the corporation’s year.)
If you are not able to provide your 2016 Business Income and Expenses before the March 15 deadline for S Corporations and Partnerships, an automatic six-month extension can be requested on your behalf.
Contact Ebere Okoye at 301-441-4538 ([email protected]) to assist you with your tax preparation this year. Mention Duncan Wierman to get your discounts on services!