Tax Deadlines

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Businesswoman relieved from resolving her issues before the tax deadlines Deadlines include anytime something is due. This can include well known tax deadlines like April 15, or extension deadlines, or payment deadlines. These posts cover upcoming deadlines, or a reminded that actions need to be taken by a certain date or there will be repercussions.

It is important to stay in compliances with tax deadlines, or you will run into statutory penalties and pay interest and fines. Any state or local authorities that you file with may also have various deadlines, and they sometimes have more unreasonable penalties. For example, Florida Reemployment (called unemployment insurance everywhere else) has a $25 minimum penalty for not filing your quarterly notice on time. For halted companies that may no longer have payroll, you might be paying a $25 fine for not getting  $0 form turned in on a timely basis. When you multiply this by the various forms you might need to submit, if your business dealings use a series of LLCs or other business entities, you may find an unreasonably high risk related to failure to file.

Part of what inspired us to launch our Starter Package was that staying on top of every tax deadline takes up time every month, a trivial amount of time for a tax firm, but a large amount of time for normal small business owners. By reviewing your books monthly and tracking all of your filing deadlines, we can avoid penalties, reduce interest, and simplify the lives of our tax and accounting clients.

By getting extensions in on time, filings on time – either the original tax deadline or the extended one – we can help you save money, reduce stress, and build your wealth.

12-16 week processing time for amended returns submitted during the government shutdown

By |2021-03-19T12:52:24-04:00November 12th, 2013|Categories: Quickies with Bette|Tags: , , , , |

Today I called the IRS regarding a client's amended tax return. The agent told me that due to backups caused by the government shutdown amended returns will take 12 to 16 weeks to process.

Taxpayers Claiming Education Credits Wait Until February To File

By |2021-03-17T10:27:59-04:00January 30th, 2013|Categories: Deadlines and Updates|Tags: , , , , |

If you are a taxpayer that claims one of the education tax credits- the American Opportunities Credit and the Lifetime Learning Credit- using Form 8863 you will need to wait until mid-February to file your return. 

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