Update Monday March 4, 2013 – The IRS is now accepting all 2012 individual and business tax returns.
Update February 9, 2013 – Returns that include Form 4562 can be filed from February 10, 2013.
As of February 4, 2013 the IRS is now accepting many 2012 calendar year business tax returns. This includes the corporate tax returns in the Forms 1120 series and partnership tax returns Forms 1065.
However, businesses that need to complete Form 4562 to claim depreciation or are claiming certain business credits can not file until late February or early March. This will mean that a large number of businesses filing as a corporation on Form 1120 or as a S-Corporation on Form 1120S will not be able to file until very close to the March 15, 2013 filing deadline.
I am advising my business clients to let me know as soon as possible if they will have their accounting information ready to be able to meet the March 15, 2013 filing deadline for corporations or April 15, 2013 filing deadline for partnerships. If they will not be ready I will file an extension so that we will not need to worry about the delay in being able to file some of the business tax returns.
For those clients who will soon have their accounting information available I will be able to prepare the return as my tax software can work out the depreciation. We just will not be able to file the completed returns until late February or early March.
If you need assistance preparing your business tax returns do not hesitate to contact me on (480) 363-4808 or read my business tax preparation page.
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.