The tax due dates will vary based on the type of the business entity. Partnerships, Corporations and sole proprietorships usually have different IRS deadlines to file the tax returns. Keep updated with the due dates for mailing out the information forms and to pay the estimated quarterly taxes. Find the below list of important IRS due dates for businesses for the year 2018 and make a note on your calendar so that you never miss any IRS...

Filing a 7004 business tax extension provides you 6 months of time to file your tax return (but it is 5 months for certain business entities) But when you owe the taxes, the IRS need the taxpayer to pay the tax amount by the original due date of your tax return. Typically, by 15th April and 15th March for businesses. A business tax extension provides the time that the taxpayer needs to prepare for a complete tax...

The due date for Single-member LLC returns on Schedule C is 17th April 2019 and the due date for partnership returns with Schedule K-1s is 15th March 2019. Extension for Single-member LLC’s is until 15th October 2019 filed along with personal tax return and the extension deadline for partnership is 17th September 2019. Changes in the Return Due Dates for Partnership From the 2018 tax year, which is to be filed in 2019, the partnership tax returns are filed...

Some of the commonly asked questions related to business tax extension  is discussed in this article. It includes queries related to filing for businesses with no income, how the IRS approves or rejects the tax extensions, and other basic questions. Check out the questions whether your queries are answered? Do I need to file the tax return by the due date even though if I do not owe any taxes? Though you do not owe income tax,...

There are benefits while your LLC file an election to be taxed as either an S corporation or a corporation. In this article you will find the benefits and process to file an election; and how to use the IRS 8832 Form to file for this election. When you alter the tax status of the LLC to an S corporation or a corporation, but the legal status of the LLC remains unchanged. You will still function as...

We always rush towards the end to submit our personal tax returns and take time until April 15th. In the hurry to submit the tax returns, we commit mistakes without our knowledge. Most of the software services avoid the common errors. From your end, it is your responsibility to double check the form and check the list of common tax return mistakes that are stated below so that you can correct the mistakes and avoid the same...

Both individuals and businesses are allowed to file a tax extension, which gives extra time to file their income tax return. The due dates and the rules for filing a business tax extension differ from the personal tax extensions. Based on the type of the business, the extension period differs from 5 to 7 months, which starts from the original due date of the tax return. For instance, when a business extension gets 6 months of tax...

As a business person, your work schedules may be tight, you may have to track some struggling financial records or other financial complication that make the tax filing impossible to do on time. The Internal Revenue Service hears your difficulties and provides an alternate arrangement by offering a business tax 7004 extensions online. Extension Form 7004 for Business Income Taxes A business income tax extension is filed using Form 7004, depends on the type of business. Corporations...

Every day we come across some sort of change in the world of business, but whatever the changes are, no matter how many changes occur, as a common person we still have to pay their taxes. Nevertheless, the taxes are constantly changing. Stay up to date tax information on a yearly basis, such that you are not missing any important changes such as when the deadlines are due, if the extension become non-automatic, increase in penalties for late filing...

If you happen to be one of those individuals who need extra time for completing their business tax returns, you can use the alternative of making a request for time extension. Nevertheless, it is quite important to have a clear understanding of the fact that you will still have to make an estimate of the amount that you owe to the Internal Revenue Service within the due date. It is necessary due to the fact that the...