Denver Tax Return Filing Date Changed from April 15
April 11, 2018
Depending on your personal tax situation filing can either be an enjoyable or begrudging process. Returns often leave individuals with positive feelings, knowing they will be receiving a monetary boost due to their withholdings allocated throughout the year but owing has an adverse effect.
As a result, Tax Day, is a date for which all Americans are readily familiar with, and often dread, for those who are unprepared or procrastinated till the very end. The deadline for individual tax returns to be filed with the United States government often falls on April 15 but that is not the case this year.
Employees typically receive their W-2 forms in the month of January from their employers revealing their income from the prior year. These amounts are then used to compile the tax return, along with potentially a number of other forms and figures. Two and one-half months in order to complete the process.
As an individual, many citizens elect to complete their required returns in this timeframe but some will choose to file an extension, if needed. However, filing an extension should only be executed for a needed cause as the six month grace period only applies to the paperwork, not payment.
Tax Day however, will not fall on April 15 this year as it is a weekend (Sunday). Normally moved to the following Monday when this occurs, another holiday extends the initial deadline for filing until Tuesday, April 17 this year.
Emancipation Day is celebrated on the closest weekday to April 16 in Washington D.C. and now often has an effect on they typical filing deadline. For example, this year the holiday will be recognized on Monday and as a result pushes the filing date for individual tax returns back one day to the April 17 due date.
Moving forward it will be a few years before the two circumstances, weekend and holiday, have an effect on Tax Day again. Including this year, it will be four years until the date has another effect on filing your individual taxes.
If needed, enjoy the slight two-day extension this year because it won’t come around again until the 2022 calendar year. If all remains the same, Emancipation Day should be celebrated on April 15 that year and taxes will then be due on the following Monday, April 18 - beginning another few years of non-April 15 tax dates. Â
If you still need to file or register for an extension, the tax preparation and accounting experts at Bloch, Rothman, and Associates will be pleased to assist you in filing a return. Our associates can help ensure you receive the best refund possible or assist in lowering taxes owed, should that apply. Experienced and knowledgeable experts at Bloch Rothman, can provide expert tax advice and assistance, as well as help you with a variety of bookkeeping, accounting and payroll issues you may be experiencing. Need assistance for your unique financial or tax situation? Call 303-321-7160 or contact us for your initial free no obligation consultation.
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As a result, Tax Day, is a date for which all Americans are readily familiar with, and often dread, for those who are unprepared or procrastinated till the very end. The deadline for individual tax returns to be filed with the United States government often falls on April 15 but that is not the case this year.
Employees typically receive their W-2 forms in the month of January from their employers revealing their income from the prior year. These amounts are then used to compile the tax return, along with potentially a number of other forms and figures. Two and one-half months in order to complete the process.
As an individual, many citizens elect to complete their required returns in this timeframe but some will choose to file an extension, if needed. However, filing an extension should only be executed for a needed cause as the six month grace period only applies to the paperwork, not payment.
Tax Day however, will not fall on April 15 this year as it is a weekend (Sunday). Normally moved to the following Monday when this occurs, another holiday extends the initial deadline for filing until Tuesday, April 17 this year.
Emancipation Day is celebrated on the closest weekday to April 16 in Washington D.C. and now often has an effect on they typical filing deadline. For example, this year the holiday will be recognized on Monday and as a result pushes the filing date for individual tax returns back one day to the April 17 due date.
Moving forward it will be a few years before the two circumstances, weekend and holiday, have an effect on Tax Day again. Including this year, it will be four years until the date has another effect on filing your individual taxes.
If needed, enjoy the slight two-day extension this year because it won’t come around again until the 2022 calendar year. If all remains the same, Emancipation Day should be celebrated on April 15 that year and taxes will then be due on the following Monday, April 18 - beginning another few years of non-April 15 tax dates. Â
If you still need to file or register for an extension, the tax preparation and accounting experts at Bloch, Rothman, and Associates will be pleased to assist you in filing a return. Our associates can help ensure you receive the best refund possible or assist in lowering taxes owed, should that apply. Experienced and knowledgeable experts at Bloch Rothman, can provide expert tax advice and assistance, as well as help you with a variety of bookkeeping, accounting and payroll issues you may be experiencing. Need assistance for your unique financial or tax situation? Call 303-321-7160 or contact us for your initial free no obligation consultation.
Filing An Extension On Your Denver Tax Return
March 28, 2018
Tax season is underway and with only about one month remaining before the federal due date of April 15, which happens to be April 17 this year due to the weekend and holiday, the time is now to determine if you need to file an extension. While most returns will be filed prior to the initial deadline, some individuals need extra time to finish calculating their taxes or completion may have been delayed for other reasons associated with their personal lives or the return itself.
When these factors arise, then electing to file an extension can be beneficial to the taxpayer in terms of completing all of the required documentation but should not be considered unless absolutely certain that the extension is being filed for correct reasons.
The actual process of filing an extension is not complicated. An individual must complete the Internal Revenue Service (IRS) form 4868, which is the application for fling the extension and is simply comprised of some demographic information in addition to payment information. Once processed, the taxpayer is granted a six-month addition and their tax forms are not due to the IRS until October 15 but may be filed at any time prior to the deadline.
One important thing to note on the filing of an extension is that a granted grace period for the time to submit a tax return is NOT an extension on the time required to pay.
If you owe taxes then that money remains due by the April 17 deadline and if not submitted will begin to accumulate penalties and interest, until all funds due have been submitted. For this reason, it is never a good idea to consider filing for an extension, simply because you may not have the money readily available to cover your tax debt.
Extensions are normally filed for those who are waiting on vital information on which their return is reliant, such as K-1 information, 1099 forms, or other statements regarding the potential income or loss associated with varying stocks and bonds attributed to the taxpayer. When these forms are not in hand, then the figures required for a complete return are not available and thus a return would benefit from an extension. Even if these forms are available prior to the deadline, comprising the return completely may not be possible and if in question, a return extension is warranted.
Other factors include travel or work and being unavailable during a majority of the tax season. Illness to either the taxpayer or spouse may keep things from getting completed in a timely manner or you may believe some of your paperwork needed for filing contains inaccurate information and must be corrected prior to completion.
The tax preparation and accounting experts at Bloch, Rothman, and Associates can assist you with determining whether filing an extension is necessary based on the information you provide. They can also help with in depth explanations for any of the questions you may have in regards to your return, prior to tracking all expected refunds at both the state and federal levels. While known for providing expert tax advice and assistance, they can also help with a variety of accounting, bookkeeping and payroll options on either an individual or business level. Whether you need an explanation for a random tax form - such as the 4868, are potentially in need of appropriate representation in tax court, or could use help with any other various services, our tax experts are ready and willing to assist. Call 303-321-7160 or contact us for your initial free no obligation consultation.
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When these factors arise, then electing to file an extension can be beneficial to the taxpayer in terms of completing all of the required documentation but should not be considered unless absolutely certain that the extension is being filed for correct reasons.
The actual process of filing an extension is not complicated. An individual must complete the Internal Revenue Service (IRS) form 4868, which is the application for fling the extension and is simply comprised of some demographic information in addition to payment information. Once processed, the taxpayer is granted a six-month addition and their tax forms are not due to the IRS until October 15 but may be filed at any time prior to the deadline.
One important thing to note on the filing of an extension is that a granted grace period for the time to submit a tax return is NOT an extension on the time required to pay.
If you owe taxes then that money remains due by the April 17 deadline and if not submitted will begin to accumulate penalties and interest, until all funds due have been submitted. For this reason, it is never a good idea to consider filing for an extension, simply because you may not have the money readily available to cover your tax debt.
Extensions are normally filed for those who are waiting on vital information on which their return is reliant, such as K-1 information, 1099 forms, or other statements regarding the potential income or loss associated with varying stocks and bonds attributed to the taxpayer. When these forms are not in hand, then the figures required for a complete return are not available and thus a return would benefit from an extension. Even if these forms are available prior to the deadline, comprising the return completely may not be possible and if in question, a return extension is warranted.
Other factors include travel or work and being unavailable during a majority of the tax season. Illness to either the taxpayer or spouse may keep things from getting completed in a timely manner or you may believe some of your paperwork needed for filing contains inaccurate information and must be corrected prior to completion.
The tax preparation and accounting experts at Bloch, Rothman, and Associates can assist you with determining whether filing an extension is necessary based on the information you provide. They can also help with in depth explanations for any of the questions you may have in regards to your return, prior to tracking all expected refunds at both the state and federal levels. While known for providing expert tax advice and assistance, they can also help with a variety of accounting, bookkeeping and payroll options on either an individual or business level. Whether you need an explanation for a random tax form - such as the 4868, are potentially in need of appropriate representation in tax court, or could use help with any other various services, our tax experts are ready and willing to assist. Call 303-321-7160 or contact us for your initial free no obligation consultation.
Important Receipts Needed For Denver Tax Preparation
March 21, 2018
As tax season gets underway individuals everywhere are preparing their important tax related documents for individual and joint filing purposes. While most people are aware of the required W-2 forms and potentially 1099 papers, in addition to various amounts of interest from bank accounts and mortgages, not everyone is knowledgeable about just what receipts are needed in order to maximize their tax deductions.
By implementing and analyzing these costs and figures an individual can sometimes lower their tax status and often be refunded variable amounts within their return for qualifying expenses. However, proof of the taken deductions must be readily available and often comes in the form of a receipt from the point of purchases made.
While different for almost every individual, the following broad ranging expenses should be properly documented and receipts kept for each throughout the year. Also, instead of having to go back through drawers of receipts in order to find what it is needed, it can also be beneficial to keep these papers separated by each of the following categories.
Self-employed tax deductions include big items like a home office down to potential magazine or radio subscriptions. Other employee types can benefit from expenses associated with work related activities that are not reimbursed by the employer but accurate records are a must.
The experts at Bloch, Rothman, and Associates can help you determine which deductions will be most beneficial to you and what records are necessary in order to claim them. In addition to providing expert tax advice, we can also assist with a variety of bookkeeping and other payroll options.
These associates at Bloch-Rothman can help analyze and compile data for your unique tax situation, along with finding resolutions for your issues and estate complications making certain you receive the most profitable deductions on your return. All of their excellent services can and will be completed in a timely manner in addition to accounting for any potential restrictions or tax deadlines. Whether you need an explanation for a random tax form, are in need of appropriate representation, or would like help in a variety of other services our tax experts are ready and willing to assist. Call 303-321-7160 or contact us for your initial free no obligation consultation.
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By implementing and analyzing these costs and figures an individual can sometimes lower their tax status and often be refunded variable amounts within their return for qualifying expenses. However, proof of the taken deductions must be readily available and often comes in the form of a receipt from the point of purchases made.
While different for almost every individual, the following broad ranging expenses should be properly documented and receipts kept for each throughout the year. Also, instead of having to go back through drawers of receipts in order to find what it is needed, it can also be beneficial to keep these papers separated by each of the following categories.
Medical Related Activities
If electing to itemize your tax return, a surprising amount of medical deductions are available for qualifying individuals. These include many out-of-pocket expenses to doctors, dentists, and others plus some insurance premiums, and copays for prescription drugs.Childcare Related Activities
Most individuals who pay an outside agency or person to provide care for their dependent during the workday or anytime are eligible to receive a credit for their expenses. This credit is available until the child or dependent reaches 13 years of age.Work Related Activities
Whether self-employed, working for someone, or a company the tax deductions available are plenty. These receipts will be needed in addition to other information, such as who attended and what business was discussed or handled - especially when dealing with qualifying expenses associated with meals and entertainment.Self-employed tax deductions include big items like a home office down to potential magazine or radio subscriptions. Other employee types can benefit from expenses associated with work related activities that are not reimbursed by the employer but accurate records are a must.
The experts at Bloch, Rothman, and Associates can help you determine which deductions will be most beneficial to you and what records are necessary in order to claim them. In addition to providing expert tax advice, we can also assist with a variety of bookkeeping and other payroll options.
These associates at Bloch-Rothman can help analyze and compile data for your unique tax situation, along with finding resolutions for your issues and estate complications making certain you receive the most profitable deductions on your return. All of their excellent services can and will be completed in a timely manner in addition to accounting for any potential restrictions or tax deadlines. Whether you need an explanation for a random tax form, are in need of appropriate representation, or would like help in a variety of other services our tax experts are ready and willing to assist. Call 303-321-7160 or contact us for your initial free no obligation consultation.
When To Expect Your Denver Tax Return Refund
March 14, 2018
As tax season continues individuals across Colorado and the United States are filing returns every day. While some people dread tax time for fear they will owe either the state or government some amount of tax based on their earnings or other financial implications, some get excited about the potential to file - especially when they are expecting a sizeable refund.
Once a return is filed with the Internal Revenue Service (IRS) or Colorado Department of Revenue, a number of steps remain to ensure the return is properly accepted, transmitted, and an appropriate refund or expectancy of funds for payment is decided. For these reasons, it takes a varying amount of time to receive a refund but typically there is a timeframe for when most individuals will receive their money.
How fast can I expect my refund? One question that preparers all over America hear almost immediately after notifying a client they can expect to receive money back from either the state or federal government. The IRS website even has a section for refund frequently asked questions which highlights some topics to consider when attempting to figure out the timing of a refund as detailed below.
Electronic filing is the preferred method and while some instances require a paper filing method, such as an amendment to a prior year return, electronic is the fastest and easiest form of submission. Almost within minutes, depending on the traffic and time of day, a preparer can assure a client that their return has been filed and accepted by the appropriate party. This not only makes the individual or couple feel confident in knowing they have filed a return but also starts the clock on receiving the refund.
By choosing to have your refund return direct deposited into a bank account the timing is usually much faster than having to wait on an actual paper check to be written, then mailed through the postal service, and finally received at your home.
According to the timeframe set by the IRS most returns are distributed within 21 days of receiving a filed tax return. In most cases, the return will be received in less time, typically two weeks if both electronically filed and returned via direct deposit.
If you have not received any notification or correspondence within 21 days of a successful electronic filing or six weeks following a paper return then you may want to consider attempting to locate the reason behind a potential delay. The IRS offers a “Where’s My Refund†options which can be administered 24 hours after electronic filing and four weeks from a mailed return.
The experts at Bloch, Rothman, and Associates can help you file the appropriate return and track any expected refund. In addition to providing expert tax advice, we can also assist with a variety of bookkeeping and other payroll options. Whether you need an explanation for a random tax form, are in need of appropriate representation, or would like help in a variety of other services our tax experts are ready and willing to assist. Call 303-321-7160 or contact us for your initial free no obligation consultation.
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Once a return is filed with the Internal Revenue Service (IRS) or Colorado Department of Revenue, a number of steps remain to ensure the return is properly accepted, transmitted, and an appropriate refund or expectancy of funds for payment is decided. For these reasons, it takes a varying amount of time to receive a refund but typically there is a timeframe for when most individuals will receive their money.
How fast can I expect my refund? One question that preparers all over America hear almost immediately after notifying a client they can expect to receive money back from either the state or federal government. The IRS website even has a section for refund frequently asked questions which highlights some topics to consider when attempting to figure out the timing of a refund as detailed below.
Filing Method
There are two main factors which contribute to the timing of both acceptance and refund disbursement when filing your tax return. The first is which filing method is chosen in order to send your return to either the IRS or Colorado Department of Revenue.Electronic filing is the preferred method and while some instances require a paper filing method, such as an amendment to a prior year return, electronic is the fastest and easiest form of submission. Almost within minutes, depending on the traffic and time of day, a preparer can assure a client that their return has been filed and accepted by the appropriate party. This not only makes the individual or couple feel confident in knowing they have filed a return but also starts the clock on receiving the refund.
Refund Method
The other factor associated with timing of a refund is whether or not you opt to receive a refund via direct deposit or paper check. Just as with the filing method, choosing an electronic option is faster than the original paper method used for dispersing refunds across America.By choosing to have your refund return direct deposited into a bank account the timing is usually much faster than having to wait on an actual paper check to be written, then mailed through the postal service, and finally received at your home.
According to the timeframe set by the IRS most returns are distributed within 21 days of receiving a filed tax return. In most cases, the return will be received in less time, typically two weeks if both electronically filed and returned via direct deposit.
If you have not received any notification or correspondence within 21 days of a successful electronic filing or six weeks following a paper return then you may want to consider attempting to locate the reason behind a potential delay. The IRS offers a “Where’s My Refund†options which can be administered 24 hours after electronic filing and four weeks from a mailed return.
The experts at Bloch, Rothman, and Associates can help you file the appropriate return and track any expected refund. In addition to providing expert tax advice, we can also assist with a variety of bookkeeping and other payroll options. Whether you need an explanation for a random tax form, are in need of appropriate representation, or would like help in a variety of other services our tax experts are ready and willing to assist. Call 303-321-7160 or contact us for your initial free no obligation consultation.
Denver Tax Preparation Deadlines Differ Depending on Corporation Type
February 28, 2018
Most tax paying individuals are familiar with the typical April 15 deadline for filing tax returns. Even with the recent extensions due to Emancipation Day and Tax Day falling on a weekend over the past few years, mid-April is the time when everyone most associates their returns and correlating financial responsibilities being due to the Internal Revenue Service (IRS), should they be required.
A less common factor, is the due date of corporate returns which has fluctuated in recent years. Those responsible for filing a corporate tax return have had to deal with an earlier filing date recently, but depending on your specific designation, the dates now differ.
According to the IRS, two different types of corporations and filing dates have been formed. While all corporations begin as a C-Corp, the more preferred status, especially when dealing with taxation methods, is to be an S-Corp which has specific characteristics from which small businesses can especially benefit.
The difference between a S-Corp and C-Corp revolves mainly around their taxation methods. C-Corp stockholders can be double-taxed based on year-end revenues whereas S-Corp individuals have their proceeds run through tax free and are then only required to pay taxes on their initial draw from the corporation.
Another specific difference lies in the business tax deadline filing due date for each. Instead of being due with individual returns in mid-April, one is faced with an earlier deadline. The original deadline for S-Corporations is March 15, 2018 for the 2017 tax year. If in need of an extension, one can be filed for which then pushes the due date back six months to a September 17, 2018 final deadline for S-Corporation filings.
Opposite, the C-Corporations maintain the same filing date with individual tax returns and are initially due on April 17, 2018 for the prior tax year. While each of these dates can vary, if the corporate fiscal calendar coincides with the regular yearly calendar then these guidelines apply.
An extension is also available for C-Corporations which can be filed to prior the initial deadline, lengthening the time to file until October 15, 2018 - both six month increases in filing times. These can be extremely beneficial for larger companies that have numerous reports to collect and analyze as they prepare returns and make year-end adjustments to facilitate their return.
Both varying corporation types have their distinct advantages but ensuring the required taxes are filed for each in a timely manner is of vital importance. Neither organization wishes to incur any potential penalties from the IRS should their taxes not be filed in a timely manner.
The experts at Bloch, Rothman, and Associates can help you determine which corporation would most benefit you during an initial set-up and assist with any filing procedures. In addition to providing expert tax advice and filing the required returns, we can also assist with a variety of payroll or any other bookkeeping options. These associates at Bloch-Rothman are happy to help you look at corporate specific data as each and every tax situation is unique, along with finding resolutions for your issues. Further, estate complications can also be tricky and our experts will ensure you receive the most profitable deductions on your return and that all required paperwork is handled appropriately. All services can and will also be completed in a timely manner. Whether you need an explanation for an acquired tax form, are in need of representation, or would like help with a variety of other services then our tax experts are ready and willing to assist. Call 303-321-7160 or contact us for your initial free no obligation consultation.
Read More...
A less common factor, is the due date of corporate returns which has fluctuated in recent years. Those responsible for filing a corporate tax return have had to deal with an earlier filing date recently, but depending on your specific designation, the dates now differ.
According to the IRS, two different types of corporations and filing dates have been formed. While all corporations begin as a C-Corp, the more preferred status, especially when dealing with taxation methods, is to be an S-Corp which has specific characteristics from which small businesses can especially benefit.
The difference between a S-Corp and C-Corp revolves mainly around their taxation methods. C-Corp stockholders can be double-taxed based on year-end revenues whereas S-Corp individuals have their proceeds run through tax free and are then only required to pay taxes on their initial draw from the corporation.
Another specific difference lies in the business tax deadline filing due date for each. Instead of being due with individual returns in mid-April, one is faced with an earlier deadline. The original deadline for S-Corporations is March 15, 2018 for the 2017 tax year. If in need of an extension, one can be filed for which then pushes the due date back six months to a September 17, 2018 final deadline for S-Corporation filings.
Opposite, the C-Corporations maintain the same filing date with individual tax returns and are initially due on April 17, 2018 for the prior tax year. While each of these dates can vary, if the corporate fiscal calendar coincides with the regular yearly calendar then these guidelines apply.
An extension is also available for C-Corporations which can be filed to prior the initial deadline, lengthening the time to file until October 15, 2018 - both six month increases in filing times. These can be extremely beneficial for larger companies that have numerous reports to collect and analyze as they prepare returns and make year-end adjustments to facilitate their return.
Both varying corporation types have their distinct advantages but ensuring the required taxes are filed for each in a timely manner is of vital importance. Neither organization wishes to incur any potential penalties from the IRS should their taxes not be filed in a timely manner.
The experts at Bloch, Rothman, and Associates can help you determine which corporation would most benefit you during an initial set-up and assist with any filing procedures. In addition to providing expert tax advice and filing the required returns, we can also assist with a variety of payroll or any other bookkeeping options. These associates at Bloch-Rothman are happy to help you look at corporate specific data as each and every tax situation is unique, along with finding resolutions for your issues. Further, estate complications can also be tricky and our experts will ensure you receive the most profitable deductions on your return and that all required paperwork is handled appropriately. All services can and will also be completed in a timely manner. Whether you need an explanation for an acquired tax form, are in need of representation, or would like help with a variety of other services then our tax experts are ready and willing to assist. Call 303-321-7160 or contact us for your initial free no obligation consultation.