Home | About us | Services | Testimonials | Request a Call | Clients | Contact
fintax experts
 
contact
 

  Have a Query

  Do you have some doubts? Read our FAQs page. If you still have some queries you are most welcome to contact us.  
 

  Business Associates

   
  We are looking for Business Associates in US, UK, Canada & Australia.  
 

  Important Return Filing Dates

  This section highlights important deadlines for tax return filing.  
 

  Testimonials

 

"At a time when efficiency and productivity are paramount, service and integrity are key in choosing an outsourcing vendor. For these reasons, we have chosen to remain with Fintax Experts as we have got what we needed."

Bernard, Perfect Steak Company
http://www.theperfectsteak.com/

 
 
 

Corporation : Important Tax Preparation Dates

For any tax payer it is important to know and remember the deadlines prescribed for meeting the defined tax obligations.It is however, not easy always to remember every prescribed deadline and therefore we have tried to give below important month wise dates which a tax payer needs to remember.

Important Tax Preparation Dates

January 31 for Individuals who must make estimated tax payments

If any payment has been made during the year, issue annual information statements to all recipients of certain payments. Use the appropriate version of Form 1099 or other information return for that. It can be issued electronically with the consent of the recipient. Payments, for which Forms have to be issued, may be as under.

  • Rent.
  • Royalties.
  • Amounts paid for broker and barter exchange transactions.
  • Payments to attorneys.
  • Cash payments for fish (or another aquatic life) purchased from someone engaged in the trade or business of catching fish.
  • Compensation to workers, which are not considered as employees (including crew members to which fishing boat proceeds have been paid)
  • Dividend and other corporate distributions. Interest.
  • Amount paid in real estate transaction.
  • Profit-sharing distributions.
  • Retirement plan distributions.
  • Original issue discount.
  • Prizes and awards.
  • Medical and health care payments.
  • Debt cancellation (treated as payment to debtor).
  • Cash payments over $10,000. (Form 8300’s instructions applied, for reporting of Cash
  • Payments over $10,000 received in a any Trade or Business)

February 28

File information returns (Form 1099) due to certain payments made during the tax-year. These payments described under January 31 and use different form for different type of payment. Use a separate Form 1096 to summarize and transmit the forms for each type of payment.

See instructions for Forms 1099, 1098, 5498 and W-2G, to know what payment is covered, which form have to be use, extensions of time to file any form and how much the payment must be before a return to file. If you file Forms 1098, 1099, or W-2G electronically (not by magnetic media), the due date for filing them with the IRS will be extended to March 31. But due date for giving the recipient these forms remains January 31.

March 15

File calendar year income tax return (Form 1120 or 1120-A) and pay tax if any due for payment and if want an automatic 6-month extension of time to file the return, file Form 7004 but deposit what you estimate and what you owe i.e. estimated tax.

March 31

  • Electronic filing of Forms 1098, 1099, and W-2G
  • File Forms 1098, 1099, or W-2G with the IRS. This due date applies in case of electronically filing except magnetic media filing. For information about filing Forms 1098, 1099, or W-2G electronically, see Publication 1220 of IRS, Specifications for Filing Forms 1098, 1099, 5498 and W-2G Electronically or Magnetically.

April 15

Deposit the first installment of estimated income tax. To know the tax owed a worksheet, Form 1120-W, is available.

June 15

Deposit the second installment of estimated income tax for the year on this date. For which first installment has been paid if not, a worksheet, Form 1120-W, is available to know the estimate tax.

September 15

  • File calendar year income tax-return in the format of Form 1120 or 1120A and pay tax, interest, and penalties due if any. This due date applies if timely request has been filed for an automatic 6-month extension. Otherwise, see March 15.
  • Deposit third installment of estimated income tax for the year to get the payable amount use worksheet, Form 1120W.

December 15

Deposit the fourth installment of estimated income tax and to get the payable amount use worksheet, Form 1120W.

S Corporation
January 31

If any payment has been made during the year, issue annual information statements to all recipients of certain payments. Use the appropriate version of Form 1099 or other information return for that. It can be issued electronically with the consent of the recipient. Payments, for which Forms have to be issued, may be as under.

  • Rent.
  • Royalties.
  • Amounts paid for broker and barter exchange transactions.
  • Payments to attorneys.
  • Cash payments for fish (or another aquatic life) purchased from someone engaged in the trade or business of catching fish.
  • Compensation to workers, which are not considered as employees (including crew members to which fishing boat proceeds have been paid)
  • Dividend and other corporate distributions.
  • Interest.
  • Amount paid in real estate transaction.
  • Profit-sharing distributions.
  • Retirement plan distributions.
  • Original issue discount.
  • Prizes and awards.
  • Medical and health care payments.
  • Debt cancellation (treated as payment to debtor).
  • Cash payments over $10,000. (Form 8300’s instructions applied, for reporting of Cash
  • Payments over $10,000 received in a any Trade or Business)

February 28

  • File information returns (Form 1099) due to certain payments made during the tax-year. These payments described under January 31 and use different form for different type of payment. Use a separate Form 1096 to summarize and transmit the forms for each type of payment.
  • See instructions for Forms 1099, 1098, 5498 and W-2G, to know what payment is covered, which form have to be use, extensions of time to file any form and how much the payment must be before a return to file. If you file Forms 1098, 1099, or W-2G electronically (not by magnetic media), the due date for filing them with the IRS will be extended to March 31. But due date for giving the recipient these forms remains January 31.

March 15

File calendar year income tax return in Form 1120S and pay any tax due. Provide every shareholder with a copy of Schedule K-1 (Form 1120S), Shareholder's share of Income, Deductions, Credits, etc., or a substitute Schedule K-1. If an automatic 6-month extension of time needed to file the return, file Form 7004 and deposit the amount of estimated tax you owed.

September 15

That’s the date to file calendar year income tax return in Form 1120S and for the payment of tax any due. This due date applies only if request for an automatic 6-month extension has been filed. Otherwise, file return on March 15 and provide each shareholder with a copy of Schedule K-1 (Form 1120S) or a substitute Schedule K-1.

 
Top