Tuesday, October 09, 2018

Tax Return extensions deadline approaching!

Less than 1 week remains to finish and file your clients' 1040 and 1120 returns. Here are some things to keep in mind for a strong finish to the 2017 tax filing season.
  • The deadline is 12:00 midnight in the filer's local time zone on October 15, 2018, but file early if possible.
  • Be sure any taxes owed by your taxpayer that were not paid by the original filing deadline are paid or there may be penalties and interest imposed.
  • As long as the return is e-filed on time, you will have an electronic filing perfection period to retransmit to address any rejection errors:
    • 1040 – 5 calendar days (through Saturday, October 20)
    • 1120 – 10 calendar days (through Thursday, October 25)
  • If you're able to retransmit the e-file to correct an error and need to paper file the return, attach a copy of the rejection which will indicate the Date Submitted and Date Processed. You can easily print this information by clicking on the status for the affected client in the EF Status column within Client Manager.