Our Blog

April 2015 Individual Due Dates for income tax return

 

Income Tax Preparation schaumburgThe second quarter of a calendar year is made up of April, May, and June.

April 10

Employees who work for tips. If you received $20 or more in tips during March, report them to your employer. You can use Form 4070.

April 15

Individuals. File a 2014 income tax return (Form 1040, 1040A, or 1040EZ) and pay any tax due. If you want an automatic 6­month extension of time to file the return, file Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. For more information, see Form 4868. Then, file Form 1040, 1040A, or 1040EZ by October 15.

 

Individuals. If you are not paying your 2015 income tax through withholding (or will not pay in enough tax during the year that way), pay the first installment of your 2015 estimated tax. Use Form 1040­ES. For more information, see Publication 505.

Household employers. If you paid cash wages of $1,900 or more in 2014 to a household employee, you must file Schedule H (Form 1040), Household Employment Taxes. If you are required to file a federal income tax return (Form 1040), file Schedule H (Form 1040) with the return and report any household employment taxes. Report any federal unemployment (FUTA) tax on Schedule H (Form 1040) if you paid total cash wages of $1,000 or more in any calendar quarter of 2013 or 2014 to household employees. Also, report any income tax you withheld for your household employees. For more information, see Publication 926.

Partnerships. File a 2014 calendar year return (Form 1065). Provide each partner with a copy of Schedule K­1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc., or a substitute Schedule K­1. If you want an automatic 5­month extension of time to file the return and provide Schedule K­1 or a substitute Schedule K­1, fileForm 7004. Then, file Form 1065 by September 15.

Electing large partnerships. File a 2014 calendar year return (Form 1065­B). If you want an automatic 6­month extension of time to file the return, file Form 7004. Then, file Form 1065­B by October 15. See March 16 for the due date for furnishing Schedules K­1 or substitute Schedules K­1 to the partners. Corporations. Deposit the first installment of estimated income tax for 2015. A worksheet, Form 1120­W, Estimated Tax for Corporations, is available to help you estimate your tax for the year.

 

Www.SchaumburgCPA.Info is an official blog of Manen Kothari CPA. To ensure compliance with the requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein. One should consult their tax advisor before any of the information contained herewith applied to their individual tax situations. SK Tax Associates, Schaumburgcpa.info, or Manen Kothari cannot be held responsible for any general information stated above.

At SK Tax Associates, we do provide full range of accounting, tax, and consulting services to small to midsize businesses and individuals. It includes Individual and business tax planning and compliance, Domestic, international or Multi-state taxation, Entity planning, Accounting, Payroll, Sales & use tax. We also represent you with IRS, state and various local authorities. While offering full range of CPA firm firm related services, we also offer various consulting services from forensic claim accounting, international tax structuring, to offshore payroll processing. While our focus is to serve clients located anywhere in US or outside, we take pride for servicing clients located near us as well. Just in few years, we have served number of clients having small- mid size businesses in Schaumburg, Streamwood, Hoffman Estates, Hanover Park, Roselle, Arlington Heights, Des Plaines, Mount Prospects, Bartlett, Naperville, Skokie, Barrington and other northwest suburbs in Chicago. Together we will be the one of the fastest growing CPA firm in Chicago land.

.