Next Tuesday, March 15th is the due date for filing 2015 calendar year C corporation and S corporation income tax returns and paying any tax still due. If you need an extension, filing form 7004 provides an automatic six month extension for filing, but the tax is still due by March 15th.
This due date only applies to federal returns. The Iowa return is not due until May 2nd, 2016.
We are still waiting for Iowa to couple with federal tax law changes for 2015.
We will be taking a 2 week break and will be back with a new edition on Tuesday, March 29th.
However if the Iowa legislature passes a coupling bill, we will issue a special edition as soon as it is official.
Disclaimer: The items included in the Tax Tip Tuesday Video Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation. IRS Circular 230 disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advise 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.