All this up and down weather probably has you itching for spring to be sprung and dreaming about the not-so-distant future when you can put away the sweaters and coats for another year. While you can probably all but smell the grill heating up as you visualize your first spring cookout, it would also be a good idea to get ready for some other spring events on the horizon. Of course, I’m talking about all the filing and tax deadlines that start happening this month.
Here’s a list of the most common deadlines business owners will face over the next couple months.
March 17th:
Corporations: Form 1120 needs to be filed for the calendar year and any taxes that are due need to be paid by this date. If you’ll be filing for an automatic 6 month extension form 7004 needs to be filed and estimated taxes need to be deposited.
S Corporations: Form 1120S needs to be filed for the calendar year and any taxes due need to be paid by this date. A copy of Schedule K-1 needs to be needs to be provided to each shareholder. If you’re electing to become an S Corporation for 2014, the forms need to be filed by this date as well.
April 15th:
Individuals: Form 1040, 1040A, or 1040EZ need to be filed by this date. If you need a 6 month automatic extension, Form 4868 needs to be filed. Even if you’re filing an extension, you’ll need to deposit your estimated tax due by this day. If you’ll be paying installments on you 2014 taxes, your first installment is due on this date as well.
Partnerships: Form 1065 needs to be filed and a copy of Schedule K-1 needs to be furnished to each partner.
Corporations: First installment of your 2014 estimated taxes is due.
Note: The deadline for filing Business Personal Property Rendition varies by jurisdiction, but the deadline for most of Texas is April 15th.
April 30th:
Employers: File form 941 for the first quarter and deposit FUTA tax owed through March if it’s more than $500.
May 15th:
Non-Profits: Filing deadline for Form 990 or 990-EZ to maintain your tax-exempt status
Texas Franchise Tax: Organizations are required to file a Franchise Tax report by this date, even if no tax is due.
A complete list of federal tax and filing deadlines can be found at tax.gov/calendar.
If you need help with meeting any of these deadlines or need to get an extension filed, you can call our office at 817-381-5520 or use our appointment request form to schedule an appointment.
Remember, we don’t automatically file extensions without hearing from our clients first.
