Do you find yourself asking “when are 2020 taxes due”? It’s important to stay on top of tax due dates to make sure you don’t miss filing deadlines and don’t get hit with late filing penalties. Read on to find out all about the 2020 tax filing due dates.
When are 2020 Taxes Due?
1. Individual Income Tax Return
April 15, 2021 is the official tax deadline to file your federal income tax return, but if you believe that April 15 isn’t enough time for you, try filing for an extension. If approved, your new tax return is due on October 15, 2021.
2. Quarterly Tax Deadlines
For people whose income isn’t just from payroll, typically those self-employed, people with investment earnings, and independent contractors, the IRS requires that they make quarterly estimated tax payments. This is how the four payments periods are broken down this year:
- April 15, 2021: Deadline for the first-quarter estimated tax payments
- July 15, 2021: Second-quarter estimated tax payments deadline
- September 15, 2021: Third-quarter estimated tax payments deadline
- January 15, 2021: Fourth-quarter estimated tax payments deadline
3. S-corporation Returns
For corporations that operate on a calendar year the IRS form 1120-S are due March 15, 2021 and extensions are due September 15, 2021.
4. C-corporation Returns
The deadline for C-corporation income tax returns is April 15, 202. It’s always on the fourth month after the end of a corporation’s fiscal year.
5. Partnership/ Foreign Partnership Returns
The IRS form 1065, for partnerships, is due March 15, 2021 and the extension for this form is September 15, 2021.
Tax season is upon us and to avoid having to pay late penalties make sure you don’t miss tax return deadlines and know when 2020 taxes are due. It can be overwhelming trying to decipher which due dates apply to you. A tax professional will guide you through the process and have all your forms completed before their deadlines.
If you’re looking for financial experts to assist you this tax season and tell you when are 2020 taxes due contact Satty, Levine & Ciacco, CPAs, P.C. Visit our website today to see how we can help you!