Here at Perry, Fitts, Boulette & Fitton CPAs, we’re already looking forward to next tax season! While we’ll try to enjoy the beautiful Maine summer weather, we’re always thinking of taxes. We have some good news and bad news. The good news is: partnership returns will be due March 15 rather than April 15. The bad news is: partnership returns will be due March 15 rather than April 15. So, on one hand, it will be easier to prepare your 1040 by April 15 because your K-1’s will (should) be ready. But on the other hand, we’ll all have to start gathering our information earlier to meet this new deadline. Note: the due date for an S Corporation remains March 15.
If you are an employer distributing W-2s or required to issue 1099s – these forms need to be filed with IRS/SSA by January 31 (the same day they are due to the taxpayer). They used to be due to IRS/SSA by February 28.
This new legislation made other changes to due dates and extension due dates.
If you have any questions, please call us for details. Enjoy your summer and rest assured we’ll be watching the tax news for any changes that pertain to you.