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Follow on Google News | IRS or State Tax Compliance Business Tax Returns /Business Owner Tax Relief Options– DWK Tax GroupBusiness entity tax returns small, medium or large requires the individual taxpayer to identify the net business income. Various forms of business tax returns (1065, 1120, 1120S) sometimes require a K-1 to report the business income or loss.
By: DWK Tax Group Admin Income Tax Self – Employment Tax Employment Taxes Excise Taxes If your business is considered a Partnership, a Form 1065 is due by the 4th month and 15 days or 10th month and 15 days including extemsions. Generally a Partnership is considered a “pass through” entity. If your business is considered a Corporation or C Corp, a Form 1120 is due by the 3rd month and 15 days or 9th month and 15 days including extensions. If your business is considered an S Corporation, a Form 1120S is due by the 3rd month and 15 days or 9th month and 15 days including extensions. Generally a S Corp is considered a “pass through” entity. If you are self-employed, a Schedule C should be filed with your individual Form 1040 tax return filing. An approved business tax return extension, is not an extension of time to pay the assessed tax balance owed, it is an extension of additional “time” to file. Often overlooked are the submissions of “information” Contact 1 – 8 6 6 – 2 2 6 – 6 1 0 2 for the fast track to a life of tax problem free existence or click on: http://dwktaxgroup.com/ End
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