Explaining Tax Deadlines, Extensions, and Payments

There’s usually some degree of confusion regarding when “taxes” are due. Here are a few tips to help you better understand when tax returns and payments are due.

  • Depending on the type of tax RETURN, the due date is March 15th (most businesses) or April 16th (personal, and C-Corps).
  • The tax MONEY is ALWAYS due by January 15th with the opportunity to pay the last portion by April 16th under certain circumstances.
  • Filing an extension adds six months to the deadline to file the tax RETURN but it DOES NOT extend the deadline to PAY the tax owed.
  • When taxes are not PAID by the deadline, penalties and interest are added to the amount owed.
  • When the tax return is not FILED by the deadline, penalties and interest on the penalties may also apply.
  • We cannot tell you what your tax will be until we’ve completed your return. However, if you need help estimating your taxes so you can make the payments on time, please request our assistance.

If you have any questions about your payment or would like assistance with your tax returns, call us at (480) 888-7111 to schedule your free consultation.