Calendar-year C and S corporations must file their 2014 federal income tax returns by today or apply for an automatic six-month filing extension using IRS Form 7004. Today is also the deadline for C corporations that want to have S corporation status for 2015 to make their election if they were in business in 2014. Be sure to check whether a separate state election for S status is required.
It’s tax season! Be sure to get your copy of the 2015 edition of my tax books, J.K. Lasser’s Small Business Taxes 2015 and 1001 Deductions and Tax Breaks. Plus, FREE supplements with important updates to both books are now available — find them on my website here and here.