Winter is coming.
Brace yourselves. The year of 2015 is on its final leg, and 2016 is approaching with impeccable speed. As the New Year springs forth in glorious celebrations, something else, something dark, enters with it. Tax time clings to the New Year like a leech, sucking all of the fun away. Every year, shortly after a new year is celebrated, people begin to slowly realize that 1099s, W-2s, and the dreaded tax returns are due soon. This quickly gives them the collywobbles. Franticly, people begin the search for an accountant, or a way to get taxes done. In a flash, due dates are upon you.
The only remedy to this is preparation. Let us be prepare this year to tackle this beast!
Here are a few deadlines to keep in mind for the upcoming season!
· Fourth quarter estimated tax payment due. Make sure you have made enough payments to the IRS to avoid penalty!
· Send a copy of an employee’s W-2 to the employee
· Send a copy of an independent contractor’s 1099 to the contractor
· W-2 and W-3 are to be filed with IRS (if you are e-filing, the due date is March 31, 2015)
· 1099 and 1096 are to be filed with IRS (if you are e-filing, the due date is March 31, 2015)
· Annual tax returns (1120) S-Corps and C-Corps are due to IRS
· W-2, W-3, 1099, and 1096 are due to IRS if filing electronically
· Individual Tax Returns (1040) are due to IRS (extension deadline as well)
· Partnerships and LLC tax returns (1065) are due to IRS (extension deadline)
Remember! This is not an all-inclusive list! Just some deadlines to keep in mind. If you have any questions or concerns about meeting the deadlines this season or if you need assistance with any of the returns, be sure to email us at Info@skywardaccounting.com!