Enjoy this month's newsletter!
Extended Corporate & Partnership Tax Returns Are Due
I hope everyone is enjoying the last couple weeks of summer! Of course, the end of summer also means more tax deadlines. If you filed for an extension of time to file your partnership or corporate tax return last spring, the deadline for filing these returns is rapidly approaching. The deadline for extended partnership & corporate tax returns (S Corp & C Corp) is September 15th. Also, extended individual tax returns are due by October 15th. We filed a lot of extensions for our clients this year so we expect to be very busy leading up to both of these deadlines. If you filed for an extension and still need to file your return, we encourage you to contact us as soon as possible so we can get started on your return to ensure that it will be filed by the deadline. The IRS is cracking down on late filing this year and is penalizing late filers $89 for each month that the tax return is late. Get your tax return filed right away so you won't be penalized!
Also, the 3rd installment of the 2009 estimated tax payments for individuals is due by September 15th. If you make estimated tax payments, be sure to send your payments in by the 15th to avoid penalties.
The nation's debt must be brought to heel, and doing so will require tough choices beyond spending cuts, experts say.
A $9 trillion federal deficit over 10 years may be too hard to comprehend. But this part is easy: Such unwieldy amounts of debt could have an impact on Americans' bottom line one way or the other -- if not tomorrow, then the day after.