S-CORPORATIONS: File a 2020 calendar year income tax return (Form 1120S) and pay any tax, interest, and penalties due. Provide each shareholder with a copy of their final or amended Schedule K-1 (Form 1120S) or substitute Schedule K-1 (Form 1120S). S-CORPORATION ELECTIONS: File Form 2553 to elect to be treated as an S corporation beginning with calendar year 2021. … Continued
BENEFIT PLAN DEADLINE (12/31 year end): Corrective distribution for failed ADP/ACP without 10% excise tax is due (non EACAs only). Eligible Automatic Contribution Arrangements (EACAs) have until June 30, 2021 to make corrective contributions without a 10% excise tax. For additional information on these deadlines or our employee benefit plan audit services, please click here to contact us.
Form 1042 is due. An automatic 6-month extension using Form 7004 can be filed. This is NOT an extension to pay. Form 3520-A is due for calendar year foreign trusts with a US owner. An automatic 6-month extension is available, using Form 7004. Form 8804 must be filed to report withholding tax on income from … Continued
BENEFIT PLAN DEADLINE (12/31 year end): Required Minimum Distribution (RMD) beginning date for 5% owners and terminated participants who turned 72 in 2020. This deadline applies only to the first RMD. Subsequent … Continued
BENEFIT PLAN DEADLINE (12/31 year end): Corrective distribution of 402(g) (excess deferrals) For additional information on these deadlines or our employee benefit plan audit services, please click here to contact us.
Deadline to file FINCen 114 (Formerly known as Form TD F 90-22.1) (FBAR). Reporting is on a calendar year, regardless of the taxpayer’s fiscal year elected. Foreign-owned U.S. disregarded entities must paper file … Continued
On March 17, the Treasury and IRS extended the time period to file and pay INDIVIDUAL taxes until May 17. As of the March 17 notice, this does not extend … Continued
2020 Delaware tax returns must be filed or extended. The balance due must be paid. An automatic 6-month extension using Form 1027 can be filed. This is NOT an extension to … Continued
NONPROFITS: Form 990 filing deadline for calendar year nonprofit organizations.
INDIVIDUALS: On March 17, the Treasury and IRS enacted an automatic extended time period for individuals to file and pay 2020 taxes from April 15 to May 17. File a … Continued