As the calendar prepares to turn from 2017 into 2018, a new tax year is on the horizon. While many individuals prepare for their year end reports and analysis, companies all over America will be preparing W-2 forms for their employees and reporting all income and information available to the Internal Revenue Service (IRS) in preparation for the tax season.

While most people are familiar with the April 15 deadline for filing personal tax returns, the date is often different and can be affected by the calendar, depending on the day of the week. For 2018, April 15 falls on a Sunday but other factors also contribute to pushing the date forward for your Denver tax preparation. Emancipation Day, a Washington D.C. specific holiday moves the date for filing further into the workweek and is detailed below.

Following is a review of the important dates for filing and deadlines subject to consideration by the IRS for the 2018 calendar year.

JANUARY 31

W-2 forms are due to employees either by electronic form or mail. These are used for tax filing purposes and must be accessible by this date for the appropriate parties.

MARCH 15

Both Partnerships (Form 1065) and S-Corporations (Form 1120S) tax returns are due by this date. Similar to personal tax returns, these business entities must file their corporate tax returns one month prior to the personal tax return filing deadline.

APRIL 17

Due to the original April 15 falling on a weekend and holiday, the deadline for personal returns has been pushed to Tuesday for 2018, the 2017 tax year. Along with individual returns, Trusts and Estates (Form 1041), and C-Corporations (Form 1120) will also be due at this time. Further, the FBAR (FinCEN 114) filing date for foreign bank and financial accounts is extendable but originally scheduled for this date.

MAY 15

All Tax Exempt Organizations (Form 990 Series) filing is due. According to the IRS, types of tax exempt organizations include a variety of charitable, social, agricultural, and labor organizations in addition to many other groups who fall under this category.

JULY 31

Employee Benefit Plans (Form 5500 Series) are due for annual reporting. These satisfy the requirement set forth under the Employment Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code.  

The experts at Bloch, Rothman, and Associates can answer any questions regarding individual or business income taxes and assist with a variety of bookkeeping options. In cases where the taxpayers are selected for an audit, it is recommended that they enlist the services of a professional tax service before any information is handed over to the IRS auditor.

A full detailed review of your tax situation can be completed in addition to resolution issues and estate compilations. All services will be completed in a timely manner, depending on your restrictions and possible tax deadlines. Whether you need a simple explanation on a random tax form, are in need of 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.