01 Feb Tax Filing and Extension Deadlines for 2018
January is at a close, and tax filing season is officially under way. To avoid late filing fees and late payment fees, it’s important that you know what your filing deadlines are for this year. Here is a brief overview of which deadlines apply to which types of filings this year.
March 15: Partnership and S-Corp Deadline
If you own or are a partner in an S-corporation or partnership (also known as pass-through entities), your business tax returns must be filed by March 15, 2018. If you need additional time to gather documents for your business taxes, ask one of our Provo CPAs about filing an extension.
April 17: Individual and C-Corp Deadline
For business owners in a C-corporation, and for individual tax filers, the tax filing deadline this year is April 17, 2018. The slight delay is due to the fact that April 15th falls on a Sunday, and the 16th is a DC holiday. Those few extra days can help ensure you get your filing or extension in on time to avoid any late fees.
Individual tax filers, please note that you should have received your W-2 for filing purposes by January 31st. If you have not received it, contact your employer.
September 17: Partnership, S-Corp, and C-Corp Extension
If you’re extending your business tax return, you will have until September 17th to file. This includes partnerships and S-corporations, as well as C-corporations. If you’re filing for a C-corporation, it’s important to note that extending will only give you 5 extra months to file, instead of 6. You must file your request for an extension by the applicable deadline given above.
Please also be aware that you are expected to make a payment to the IRS when you file for an extension. This amount will be based on the estimated taxes you owe, and must be paid to avoid late payment fees.
October 15: Individual Extension
For individuals who need a little extra time to file their taxes, you can extend until October 15th. Your extension request must be filed by April 17th, and you must submit a good-faith payment to avoid any late filing or late payment fees. Your payment will be based on any estimated taxes you owe, so be sure to ask your CPA how much you should expect to pay.
If you have any questions about your estimated taxes owed, filing an extension, or other tax-related issues, please speak to one of our Provo CPAs.