It’s March 15, Do You Know Where Your Corporate Tax Returns Are?

Today is March 15 which means that most corporate taxpayers must file their tax returns (or extensions) by the end of the day. This includes forms 1120 for C corporations and forms 1120S for S corporations. If you’re not ready yet, you can obtain an automatic 6-month extension by timely filing a federal form 7004 and paying any tax due (remember, an extension only extends the time to file, not the time to pay).

A number of passthrough entities (such as LLPs, GPs and LLCs) will have until April 18 to file their tax returns (or extensions).

Nonprofit corporations generally have until May 15 to file their appropriate information returns.

If you’re not sure about your filing status, check with your tax professional.

As a side note, today also marks the Ides of March. Julius Caesar allegedly met a seer who claimed that harm would come to him not later than the Ides of March. On this day, Caesar remarked to the seer, “Well, the Ides of March have come.” The seer replied, “Ay, they have come, but they are not gone.” Kind of the same thing can be said about taxes.

Kelly Phillips Erb

Kelly Phillips Erb, known as Taxgirl, is a tax attorney, writer, and speaker who explains tax news, IRS updates, scams, financial crime, and money in plain English.

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