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Is it that time already? Yes it is - tax season is here!

Kevin Smith

February 11, 2019

With Mid-February and “Snowmageddon” upon us - tax season is now in full swing. With that, we are providing a friendly reminder about tax season deadlines. The deadline schedule is provided below, which you’ll also recognize from our engagement letters.

To add more clarity around our deadlines, the tax information submission date is the last date in which we can guarantee a timely filed tax return. As you may be well aware, the 2018 tax year is the first filing season under the Tax Cuts & Jobs Act that was signed into law in December 2017. The IRS has estimated that many business returns will require up to 30% more time to deal with the varies intricacies of the new tax law. With that in mind, we encourage you to submit your tax documents even if you are waiting on a few documents. Our recommendation is to follow the 80/20 rule- if you have 80% of your tax documents, please feel free to submit them to us at that time. We greatly appreciate the opportunity to start work earlier rather than waiting until 100% of documents are available.

In addition, if you have a Partnerships or S-Corporation filing, we want to remind you of our extension process, which we implemented last year. For all these entities that have not yet been completed and filed with the Internal Revenue Service, we will file an automatic extension on Monday, March 11th assuming we have received your signed engagements letter by that date. This will include many entities that are in various stages of preparation including those just waiting on eFile authorization. Filing an automatic extension on the return will simply provide us more time to work through your return and it reduces the urgency for you to finalize and sign eFile authorization forms. We will notify you if any payment is due. No signature or action is required of you.

Return Type

Tax Information Submission Date

Tax Return Due Date Extended Due Date

Individual Tax

(Form 1040)

March 20, 2019 April 15, 2019 October 15, 2019

Partnership Tax

(Form 1065)

February 20, 2019 March 15, 2019 September 15, 2019

S-Corporation Tax

(Form 1120-S)

February 20, 2019 March 15, 2019 September 15, 2019

Corporation Tax

(Form 1120)

March 20, 2019 April 15, 2019 October 15, 2019

 

 

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