Does Your Small Business Still Owe Taxes on April 15th?
Because of the financial impact of COVID-19, the federal government has extended its tax deadline from April 15th to May 17th.
But even though the deadline for filing your personal federal taxes has been extended, it doesn’t necessarily mean that your business’s tax deadline has also been extended. Most small businesses will still owe taxes on April 15th, or even before then.
Check out the details below to see when your business’s taxes are due:
Sole proprietors filing a Form 1040 with a Schedule C: You’re able to take advantage of the extended deadline. Your taxes are due on May 17.
Partnership: Your taxes were due on 3/15 unless you filed an extension.
S corporations: Your taxes were due on 3/15 unless you filed an extension.
C corporations: Your tax deadline remains the same, April 15.
Click here to see more up-to-date tax filing information.
Accurate Books are Necessary for Accurate Filing
Are you struggling with filing your taxes due to out-of-date or disorganized books? We can help! Contact us today for your free consultation and let us help you get your books up to date and in order in time for taxes.
Additional Note from QuickBooks
Intuit, the maker of QuickBooks, has notified its ProAdvisors that after April 20, 2021, it will no longer support its QuickBooks Online Windows or Mac desktop apps.
These apps allow users to launch QuickBooks Online directly from their desktops instead of requiring that they first open web browsers, such as Microsofit Edge, Google Chrome, Mozilla Firefox or Safari.
If you are using the QuickBooks apps, then you don’t need to do anything. The apps will still be available to you as long as your browsers can support them. You won’t, however, be able to download, receive customer support, or software updates to the apps.
Intuit recommends that after April 20, users access QuickBooks Online by signing in at https://quickbooks.intuit.com/sign-in-offer/.
The company made the decision to discontinue support of these apps because of limited customer use. Meanwhile, the company is turning its attention to investing in other products and services that are more widely used by accountants and their clients.