Time Extension for Corporate or Partnership Taxes
As you know it is crunch time for many business owners as it is the final month for the Tax Deadline. However, for others it's only just a couple of days. How frightening! Business owners who either were ill prepared or lost track of time are now scrambling to get all of their information so they can file their taxes on time.
March 15th are when taxes need to be filed by partnerships and S corporations. Partnerships have to file Form 1065 and S Corporation has to file Form 1120S. However, they are able to file an extension by the due date of the tax return. Now that doesn't mean it's time to relax and party due to your deadline being pushed further into the year to fill out. You have an additional six months to file your tax returns, so Sept 15th is when they must be filed.
Now if you have filed for extension for your tax returns, it would be wise to start planning for them immediately. No better time than the present, make sure to contact us today!