2020 Tax Filing Deadlines
By: Tax Hotline
Winter 2020 (Vol. 37, No. 4)
Individual returns are due by April 15, 2020. If you need more time you can extend that due date to October 15, 2020 by filing IRS Form 4868 on or before the April 2019 filing deadline. Your tax filing deadline AND payment deadline, if you live out of the country, is Monday, June 15, 2020.
Partnership returns (IRS Form 1065) are due by March 16, 2020. If you file an extension you will have until Sept. 15, 2020.
Estates and Trusts income tax returns (IRS Form 1041) are due by April 15, 2020. Extended deadline is Sept. 30, 2020.
C-corporation income tax returns (IRS Form 1120) are due April 15, 2020 for C-corporations that operate on a calendar year. Extended deadline is Oct. 15, 2020. The deadline for C-corp returns is the 15th day of the fourth month following the end of the corporation’s fiscal year if the corporation is on a fiscal rather than a calendar year.
S-corporation returns (IRS Form 1120-S) are due by March 15, 2020 for corporations on a calendar year. Extended deadline is Sept. 15, 2020. The deadline for S-corp and partnership returns is the 15th day of the third month following the end of the fiscal year if they are on a fiscal year rather than a calendar year.
Foreign bank account reports (IRS Form 114) are due by April 15, 2020. Extended deadline with Form 1040 is Oct. 15, 2020.
Estimated Tax Deadlines:
- January 15th, 2020 (Fourth quarter payment for 2019 tax year).
- April 15th, 2020 (First quarter payment for 2020 tax year).
- June 15th, 2020 (Second quarter payment for 2020 tax year).
- September 15th, 2020 (Third quarter payment tax year).
NOTE: If you want to extend the due date of your tax return, you must file the extension by the original due date. The extension does not get you off the hook for payments, you still need to pay any estimated taxes by the April 15 deadline. If you don’t you will owe interest and possibly a penalty on your taxes owed.