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US Tax Filing Deadlines

FOR THE CALENDAR YEAR TAX RETURNS REPORTING 2020 INFORMATION THAT ARE DUE IN 2021, THE FOLLOWING DUE DATES APPLY

March 15

  • Form 1065- Partnerships
  • Form 1120-S – S Corporations
  • Form 3520-A – Foreign Trust Reporting

April 15

  • Form 1041 – Estate and US Trusts
  • Form 1120-C – C Corporations

May 17

  • Form 1040 Individuals
  • Form FinCen114 (FBAR)

AUTOMATIC 2-MONTH EXTENSION FOR US CITIZENS LIVING ABROAD

You may be allowed an automatic 2-month extension of time to file your return and pay any federal income tax that is due. You will be allowed the extension if you are a U.S. citizen or resident alien and on the regular due date of your return:

  • You are living outside of the United States and Puerto Rico and your main place of business or post of duty is outside the United States and Puerto Rico, or
  • You are in military or naval service on duty outside the United States and Puerto Rico

Ref: https://www.irs.gov/individuals/international-taxpayers/us-citizens-and-resident-aliens-abroad-automatic-2-month-extension-of-time-to-file

Example: Form 1040 Individual is due June 15

Note, this applies to filing of returns and payment of tax due. You can pay your tax due by this date without penalty, however you will still incur interest from April 15. We recommend that if you expect to incur a residual tax liability that you file and pay your taxes as early as possible.

FURTHER FILING EXTENSION MAY BE GRANTED IF APPLICATION IS MADE PRIOR TO DUE DATE.

  • Generally, April 17, although for expats it is likely to be June 15
  • Application for filing extension, form 4868

If an application for extension is filed prior to the due date of return and extension of up to 6 months will be granted. See below for the extended due dates. You still must pay any tax due by the original due date or be subject to late payment penalties and interest.

As a general rule, filing dates can be extended but tax payment due dates can’t be deferred. If you work on this assumption you will avoid any late filing and payment penalties and interest.

Ref: https://www.irs.gov/pub/irs-pdf/f4868.pdf

We will complete this application for you.

FINCEN 114 (FBAR)

When the IRS grants a filing extension for a taxpayer’s income tax return, it does not extend the time to file an FBAR.

The Act mandates a maximum six-month extension of the filing deadline. To implement the statute with minimal burden to the public, FinCEN will grant filers failing to meet the FBAR annual due date of April 15 an automatic extension to October 15 each year. Accordingly, specific requests for this extension are not required.

Ref: https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

Effectively this means that Form FinCen114 (FBAR) is due October 15.

EXTENDED DUE DATES

September 17

  • Form 1065 Partnerships
  • Form 1120s S Corporations

October 15

  • Form 1040 Individuals
  • Form FinCen114 (FBAR)
  • Form 1120 C Corporations

If you have any queries, concerns or need further information please feel free to contact us, we are here to help.