Just a quick
reminder from Hill, Barth and King, LLC that the deadline for corporate income
tax returns (Forms 1120, 1120A, and 1120S) or to request an automatic six-month
extension (Form 7004) is March 15, 2013.
What does all this
mean?
Put simply, if your
business is a corporation --whether a regular C corporation or an S
corporation—you need to have all of your IRS forms filed no later than the last
available postmark timestamp on Friday, March 15th or at the least,
you must have completed and submitted the appropriate paperwork to file for an
extension. The good news on the latter is that it’s a simple document and
requires little more than your request and your signature.
Just as a quick
refresher: C-corporations contain all the typical company characteristics such
as possessing “legal persons” status and offering shareholders limited legal
liabilities. They are taxed on their income before distributing their
earnings to their shareholders. S-corporations are a in a separate
classification because they are not taxed on their income and shareholders
shoulder the company’s legal status and protections evenly.
If you have any questions about business or
personal income tax, feel free to contact Kevin J. Deardorff, CPA, MBA of Hill,
Barth & King LLC’s Naples office by calling (239) 263-2111 or e-mailing him
at kdeardorff@hbkcpa.com.
By Kevin Deardorff
Hill, Barth and King LLC® ranks as the 83rd
largest public accounting firm in the nation. HBK LLC® employs nearly 300
professional and support staff members who serve clients in 12 offices located
throughout Pennsylvania, Ohio and Florida.
