Business Tax Deadline approaching fast

The IRS filing deadline for Businesses that have timely filed an extension is less than a week away. If you prepare your own tax return now is the time to get to work on your Form 1065, 1120, or 1120S. If you use a paid preparer, you should have all your documentation to them by now and should be prepared to answer any additional questions as soon as possible.

The September 15th deadline may also mark the step before filing your own tax return by October 15th, which mean you really have your work cut out for you. If you need help or assistance, please feel free to call.

As a side note, if you still owe taxes for 2014, there will probably be a late payment penalty and additional interest due back to the original due date of your tax return, so be prepared to deal with those fees or additional notices, as the case may be. If this describes your situation, now is the time of year to review your current books, and if need be, make the necessary changes to your Estimated Tax Payments to avoid this situation in 2016.