Updated July 14, 2015
What are the Corporate Income Tax due dates?
The Corporation Income Tax Return is due 75 days after the established year end of the company. If the company closes its books on December 31st, then the return is due by March 15th. If the company’s year end is July 31st, then the return is due 75 days after that, or no later than October 15th.
Most S Corporations have a calendar year end, although it is possible to have a different one. C or Regular Corporation may close out their books at the end of any month.
What happens if you can’t file your return timely, and you file an extension? Form 7004 or the extension provides an automatic 6 month extension to file the 1120 or 1120S. The extension extends the due date of the form only. It does not provide an extension for any money which may be owed on the return when it is filed.
What happens if you do not file your return timely?
Penalties.
What happens if you do not pay your income taxes timely?
Penalties and Interest.
If you are having problems with your Corporate Income Tax Due Dates or have issues with your accounting in general, we would love to help. I enjoy hearing from my readers, and can be contacted at
Chris@AccountingSolutionsltd.com
Additional Accounting Articles and information on my firm can be found at
www.AccountingSolutionsLtd.com
Chris Amundson is the President of Accounting Solutions Ltd., a full service public accounting firm of Certified Public Accountants and Enrolled Agents handling the bookkeeping, accounting, tax preparation, and audit representation needs of Businesses, Estates, Trusts, and Upper Income Individuals.
773-267-7500
chris@accountingsolutionsltd.com
