A Reminder Regarding Corporate Tax Returns

Tax Returns for entities filing Federal Forms 1120 or 1120-S for calendar year ending December 31, 2015 are due on March 15, 2016.   For those entities who cannot file a complete and accurate return by March 15^th, 6 month Extensions of time to file returns are available by filing Federal Form 7004.  Any tax due with the return must be paid with the Extension in order to avoid the Failure to Pay penalties.  State Extension forms may or may not be required to be filed, depending on the individual state and circumstances and whether or not tax is to be paid with the Extensions.  Properly filed Extension forms give taxpayers additional time to file returns but do not extend the time for paying the tax.