The IRS announced on Monday March 4, 2013 that all 2012 individual and business tax returns can now be filed. They have successfully tested the outstanding forms that needed to be updated.
So, the eventful and delayed 2013 tax season is now fully up and running.
As far as most Corporation and S-Corporation returns are concerned, the filing deadline is only a few days away on March 15, 2013. For any clients that do not yet have the information available to complete their returns, I will be filing an automatic 6 month extension. The filing deadline will then be September 15, 2013.
However, note that any tax due, still needs to be paid by March 15, 2013 otherwise penalties and interest will be charged.
Disclaimer – This article does not constitute personal tax advice to the reader and is only offering general information. You should seek professional advice for your own situation as the most appropriate tax planning depends on your personal and unique circumstances.
Posted By Mark Smith
Mark Smith, EA is an Enrolled Agent and accountant with over 30 years tax and accounting experience. He is the owner of Cranmere Accounting and Tax Services LLC. He can be contacted on (480) 363-4808 or by email at firstname.lastname@example.org if you need assistance with any of the above.