2020 Tax Calendar

by Kenneth Hrica Jan 22, 2020 | Share

Income Tax Returns

Not all types of businesses have the same filing deadline for their income tax returns:

If you are a calendar-year partnership or limited liability company with two or more members, Form 1065 for 2019 is due by March 15, 2020.

If you are an S corporation, Form 1120-S is also due by March 15, 2020.

Are you a calendar-year C corporation? Then your Form 1120 for 2019 is due on April 15, 2020.

The filing deadline for your personal income tax return, Form 1040 or 1040-SR, including Schedule C for your sole proprietorship or Schedule F for your farming business, is due on April 15, 2020.

If you cannot file the return by the applicable due date on the 2020 tax calendar, an automatic 6-month filing extension is available. The request is filed by the return’s due date.

Estimated Taxes

If you are self-employed (sole proprietor, independent contractor, partner, or LLC member) and pay estimated taxes, the final installment of estimated tax for 2019 is due January 15, 2020. The payment due dates for 2020 are April 18, 2020, June 15, 2020, September 15, 2020, and January 15, 2021. The final payment does not have to be made if the income tax return is filed by January 31.

Don’t send the first installment for 2020 with your 2019 income tax return.

About the Author

Kenneth Hrica

Ken Hrica joined Century Accounting & Financial Services full time in 1991, after working for several years in public accounting with Ernst & Young. With almost 35 years at Century, Ken has recently taken over the firm and its management. The value he brings to his clients lies in his vast experience, working with hundreds of individuals, businesses and non-profit organizations. Ken’s hands on approach includes getting new clients’ records up to date, helping new clients properly set up their books, assisting in making decisions on business structures, and payroll advice, such as should you issue a 1099 vs. a W-2. He advises all clients, new and long term, in many other financial areas of their business including tax planning and tax preparation. He also helps clients deal with the IRS, from back taxes to installment agreements.

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