Not all Tax Deadlines are the Same

Are you a new business owner? If so, you need to be aware that corporate returns do not have the same due date as your individual tax return due date. Corporate returns are due March 15th or by the 15th day of the third month after your business’ fiscal year ends. The big reason for the business return is be done before your individual is because an S-Corp must provide each shareholder with a K-1 that flows into their individual return to show their share of profit or loss. If you are not ready to file, make sure you still file an extension on or before March 15th to avoid penalties.

Contact us with more questions 913.239.9130 or info@MCcpas.com

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