The Highway Act is making changes to our familiar due dates for business income tax returns. To recap current due dates, form 1120 (U.S. Corporation Income Tax Return) is initially due two and a half months after the close of the corporation’s tax year and can be extended for a six month period.
Calendar year corporations are, therefore, initially due on March 15th following the end of the calendar year and can be extended through September 15th. Form 1065 (U.S. Return of Partnership Income) is initially due three and a half months after the close of the calendar year with an option for a five month extension. Calendar year partnerships are initially due April 15th with an extension making the due date October 15th.
Read more by Barb Theofilos: When Are Severance Payments Made to FICA?
Changes to Filing Due Dates for Business Income Tax Returns
Barbara Theofilos , Taxes - Corporate & Business , Taxes - Planning, Rules and Returns
Own a Business? Ohio Incumbent Workforce Training Vouchers Available Sept. 28
Ohio Incumbent Workforce Training Voucher Program , Taxes - Corporate & BusinessAny additional applicants will be accepted and placed on a waiting list in case additional funds are made available for this program. This program is meant to develop a stronger workforce in Ohio to meet the current and future demands of the changing economy.
New Tax Penalty on Small Business Health Insurance
Affordable Care Act , Taxes - Corporate & Business , Taxes - Planning, Rules and Returns , Business - Management, Issues & ConcernsBy Howard Kass, CPA, CGMA, AEP®
Partner
New Income Tax Reductions for Ohio Business Owners
Ohio business owners , Taxes - Corporate & Business , Taxes - Planning, Rules and ReturnsBy Brett W. Neate, CPA, MTax
Senior Tax Manager
The Supreme Court Ruling on ACA Subsidies: What does this mean?
Affordable Care Act , Taxes - Corporate & Business , Taxes - Planning, Rules and Returns
With the ACA subsidy access remaining available in all states, does this affect you or your business?
On June 25th The United States Supreme Court issued their ruling on the King vs. Burwell case, upholding the government subsidies as provided in the Affordable Care Act (ACA). This case was based on wording in the ACA that could be interpreted two ways.
Mandatory Filing Now Required for U.S. Owners of Foreign Entities
foreign assets , owners of foreign entities , Taxes - Corporate & Business , Taxes - Planning, Rules and Returns
The Department of Commerce has introduced a new form that is required to be filed by U.S. owners of foreign entities. The new form BE-10 is filed through the Bureau of Economic Analysis (BEA). The BE-10 is an annual survey which, up until recently, was only mandatory if the U.S. owner was contacted directly by the BEA.
Reasonable Compensation for Shareholders of Corporations
Taxes - Corporate & Business , Taxes - Planning, Rules and ReturnsC Corporation
Have Nagging Financial Questions?
