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February 11, 2020

Important Tax Deadlines for 2020

Important Tax Deadlines for 2020

2020 Tax deadlines are usually not a top priority for a business owner. As an entrepreneur, each and every day is met with important details and deadlines. Daily responsibilities to employee matters, vendor requests, and client needs can easily draw your energy and attention from IRS deadlines. Below are some of the most important deadlines to note. Although deadlines are approaching for tax year 2019 filings, you may choose to file an extension (with payment, if necessary) if you need more time to compile financial information to prepare an accurate tax return.

March 16, 2020 Deadlines

• Deadline to file S-Corporate tax returns (Form 1120-S) for tax year 2019 or request an automatic six-month extension of time to file (Form 7004).
• Deadline to file Partnership tax returns (Form 1065) for tax year 2019 or request an automatic six-month extension of time to file (Form 7004).

April 15, 2020 Deadlines

• Deadline to file Individual tax returns (Form 1040) for tax year 2019 or to request an automatic extension of time to file with payment (Form 4868) – Due October 15, 2020.
• Deadline Corporate tax returns (Forms 1120, 1120-A) for tax year 2019 or request an automatic extension of time to file (Form 7004).
• Deadline to file Trust tax returns (Form 1041) for tax year 2019 or to request an automatic extension of time to file (Form 7004).
• Deadline to file Gift tax returns (Form 709) for tax year 2019 or to request an automatic extension of time to file (Form 8892).
• Deadline to file Estate tax returns (Form 706) for tax year 2019 or to request an automatic extension of time to file (form 4768).
• Last day to make a contribution to traditional IRA, Roth IRA, Health Savings Account, SEP-IRA, or solo 401(k) for the 2019 tax year. You have until October 15 to fund a SEP-IRA or solo 401(k) if you have an extension.
• First-quarter estimated individual tax payments due for tax year 2020.

June 15, 2020

• Second-quarter estimated individual tax payments due for tax year 2020.

September 15, 2020 Deadlines

• Final extended deadline to file S-Corporate tax returns (Form 1120-S) for tax year 2019.
• Final extended deadline to file Partnership tax returns (Form 1065) for tax year 2019.
• Third-quarter estimated individual tax payments due for tax year 2020.

September 30, 2020 Deadlines

• Final extended deadline to file Trust tax returns (Form 1041).

October 15, 2020 Deadlines

• Final extended deadline to file Individual tax returns (Form 1040) for tax year 2019.
• Final extended deadline to file Gift tax returns (Form 709) for tax year 2019.
• Final extended deadline to file Estate tax returns (Form 706) for tax year 2019.
• Final extended deadline to file Corporate tax returns (Forms 1120, 1120-A) for tax year 2019.
• Final extended deadline to make contributions to fund a SEP-IRA or solo 401(k).
• Last day the IRS will accept an electronically filed return for tax year 2019. If filing after this date, tax return must be mailed.

We can help you meet these deadlines and apply every possible tax deduction and credit that relates to your financial situation.

Call us today at 412.278.2200 or contact us through our website.

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