Today is the filing deadline for 2021 federal income tax returns for calendar-year S corporations (Form 1120-S) and calendar-year partnerships (Form 1065). If the return can’t be filed by today, apply today for an automatic 6-month filing extension using IRS Form 7004. Today is also the deadline for C corporations in business in 2021 that want to have S corporation status for 2022 to make their election with the IRS. Be sure to check whether a separate state election for S status is required. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."
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