tax deadline

Due dates changed for partnerships, C corporations and several other business returns last year. For calendar-year S corporations and partnerships, the filing date is March 15 and is April 15 for C corporations. The date for fiscal year C corporations is the 15th of the fourth month following the end of the corporation’s calendar year.

State returns are continuing to adopt new due dates in response to the changes. W2 and 1099 forms are required to be mailed to recipients and filed with government agencies by January 31st. Please contact our office by January 15th to assist you with the timely preparation of these forms.

The Affordable Care Act and your taxes – The TCJA repealed the individual shared responsibility payment (the penalty that the ACA imposes on individuals who do not have health insurance) beginning in 2019. However, other aspects of the Affordable Care Act still are in place.

Corporate alternative minimum tax (AMT) – The corporate AMT is repealed effective for tax years beginning after Dec. 31, 2017.

Don’t get assessed unnecessary IRS penalties for underpayment of estimated taxes – The IRS charges penalties (and interest) if you don’t pay the appropriate amount of taxes throughout the year. We can help you calculate your projected income and required quarterly payments. Contact our office so we can help you make the required payments before the end of the year to avoid penalties and surprises come filing season.