Important Tax Filing Deadlines You Don’t Want to Miss
Before you send in your tax return there are a lot of things you have to remember, which is why having a tax checklist is good idea. Of course, the right accountant will help you with that as well. However, before you ever get to that final point in the tax-filing process, you need to be aware of several changes to the tax laws, and of course deadlines. After all, missing a deadline can end up being very costly.
So as the 2017 tax season kicks off, here are a few important deadlines to make a note of, because missing these might hurt you.
- 1040 Filing Deadline – first off, the deadline this year for filing your taxes is actually on April 18 and not April 15. That’s because the 15 & 16 fall on the weekend and April 17 is a holiday. The extension deadline falls on October 16, but you have to file for that extension by April 18.
- Refund Delays – for those claiming the additional child tax credit or the earned income credit, they will have to wait a little longer to get their refunds, due to a new law to help fight tax fraud. The IRS will begin sending those refunds on February 15 and they will likely start arriving around Feb. 27.
- Small Business Filing Dates – there are several deadlines that will affect many small businesses, including the date to turn in Form 1065 partnership return, which has been pushed up by a month. It’s now due two and half months after the tax year closes instead of three and half months. That means this year the deadline is March 15 instead of April 15. Conversely, the deadline for Form 1120 C corporation returns has been moved back a month from March 15 to April 15. The due date for 1120S returns of S corporations will remain the same.
- Compensation Forms – employers and business used to have till the last day of February or March 31 to turn in W-2 and 1099 forms to the IRS, but that deadline is now January 31.
http://www.marketwatch.com/story/important-news-on-tax-filing-deadlines-and-refunds-2017-01-10
General Rules for Corporate Reorganization
General Rules for Corporate Reorganization In order for a transaction to be given non-recognition treatment under the reorganization provisions, it must meet certain requirements. • The reorganization must meet certain tests in the Regulations regarding “continuity of interest” and “continuity of business enterprise.” • The reorganization must be conducted according to one of seven patterns…
Accepted Patterns for Corporate Reorganization: Types A-G
Accepted Patterns for Corporate Reorganization:Types A-G The seven qualifying patterns of reorganization described in IRC section 368(a)(1)(A) through (G), are as follows: •Type A- a statutory merger or consolidation; •Type B- the acquisition by one corporation, in exchange solely for all or a part of its voting stock (or in exchange solely for all or…
8 Ways to Save on Car Insurance
8 Ways to Save on Car Insurance By Michael Broach Now that the days of cheap gas are over, people are constantly looking for ways to save a few bucks on their car. Most people will look for ways to make their car more fuel efficient, but another way to save is to lower your…
Ten Things the Average Person Does Not Know About Annuities
Ten Things the Average Person Does Not Know About Annuities By Robert D. Cavanaugh, Clu Deferred annuities possess characteristics found nowhere else. They play an important part in seniors’ portfolios. Seniors hold billions of dollars in deferred annuities. However, my experience is that the average person knows little about the unique advantages of deferred annuities,…