Happy New Year!  With tax season just around the corner, here are some important dates to keep in mind.  Also remember that all deadlines are for filing the tax returns, not paying the tax due.  Tax is due as the income is incurred (either through withholding or estimated tax payments).

March 15, 2017  

Business Tax Returns Due for Tax Year 2016

NEW THIS YEAR! Partnership returns (Form 1065) are now due on March 15th.  S-Corp returns (Form 1120S) are also due.  This is also the due date for providing K1s to the owners.  If you are not ready to file, be sure to have us request an extension for you. 

Foreign Grantor Trust Returns Due for Tax Year 2016

If you are the owner/beneficiary of a foreign trust, Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner is due.  If you are not ready to file, be sure to have us file an extension for you. 


April 18, 2017  

Individual Tax Returns Due for Tax Year 2016

If you are residing in the U.S. on April 18th, your tax return is due. If you are not ready to file, be sure to have us request an extension for you. If you reside outside the U.S. you receive an automatic 2-month extension.

Foreign Bank Account Report (FBAR)

NEW THIS YEAR! - FBAR deadlines are inline with the federal return and can be extended.  If you are not ready to file your FBAR, be sure to have us file an extension for you. This will extend the deadline until October 16, 2017.

Business Tax Returns Due for Tax Year 2016

NEW THIS YEAR! - C-Corporation tax returns (Form 1120) are now due April 18, 2017.  If you are not ready to file, be sure to have us file an extension for you. 

1st Quarter 2017 Estimated Tax Payment Due

If you are self-employed or have other first-quarter income that requires you to pay quarterly estimated taxes, get them postmarked by April 18, 2017 tax deadline.

Last Day to make a 2016 IRA Contribution

If you haven't already funded your retirement account for 2016, do so by April 18, 2017. That's the deadline for a contribution to a traditional IRA, deductible or not, and a Roth IRA. However, if you have a Keogh or SEP and you get a filing extension to October 16, 2017, you can wait until then to put 2016 money into those accounts.


June 15, 2017

Individual Tax Returns Due for Tax Year 2016-U.S. persons abroad

If you reside outside the United States on April 18th, your tax return is due on June 15, 2017.  If you are not ready to file, be sure to have us request an extension for you.  

2nd Quarter 2017 Estimated Tax Payment Due

If you are self-employed or have other second-quarter income that requires you to pay quarterly estimated taxes, make sure your payment is postmarked by June 15, 2017 tax deadline.


September 15, 2017

3rd Quarter 2017 Estimated Tax Payment Due

If you are self-employed or have other third-quarter income that requires you to pay quarterly estimated taxes, make sure your third quarter payment is postmarked by Sept. 15, 2017 tax deadline.

Extended Business Tax Returns Due for Tax Year 2016

NEW THIS YEAR! - If you filed an extension, Partnership (Form 1065), S-Corp (Form 1120S) and C-Corporation tax returns (Form 1120) are due September 15, 2017.

Extended Foreign Grantor Trust Returns Due for Tax Year 2016

If you filed an extension, your Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner is due.  

October 16, 2017

Extended Individual Tax Returns Due 

If you filed an extension on your 2016 tax return, your return is due October 17, 2017.

Last Chance to Re-characterize 2016 Roth IRA Conversion

If you converted a traditional IRA to a Roth during 2016 and paid tax on the conversion with your 2016 return, October 16, 2017 is the deadline for re-characterizing (undoing) the conversion. Doing so could save you money if the IRA has lost money since the time of the original conversion.


January 15, 2018

4th Quarter 2017 Estimated Tax Payment Due

If you are self-employed or have other fourth-quarter income that requires you to pay quarterly estimated taxes, get them postmarked by January 15, 2018 tax deadline.


What do I do now?

Need assistance with your tax filings? Contact us today for a free consultation. 


©2017 SDC, LLC    www.sdcglobalcpa.com
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult tax, legal and accounting advisors before engaging in any transaction.

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