When are corporation returns due?
Both C and S corporation tax returns are due 2½ months after their fiscal year ends. A federal six month extension can be automatically requested. A seven month California extension is automatic without filing. In both cases, any expected balance due must be paid with the extensions.
When are partnership and limited liability company returns due?
They are due 3½ months after their fiscal year ends. A federal automatic three month extension can be requested. An additional three month extension can be requested, with a reason, and is generally accepted though not automatic. California grants an automatic seven month extension without filing. In both cases, any expected balance due must be paid with the extensions.
When are fiduciary and trust returns due? They are due 3½ months after their fiscal year ends. A federal automatic three month extension can be requested. An additional three month extension can be requested, with a reason, and is generally accepted though not automatic. California grants an automatic seven month extension without filing. In both cases, any expected balance due must be paid with the extensions.
What is the current amount I can give as a gift to an individual without triggering gift tax? An individual is allowed to gift $11,000 to another individual each calendar year, including both cash and non-cash gifts. When this amount is exceeded, a gift tax return must be filed by April 15 of the following year. As an example, a husband and wife can gift $44,000 total to the child and his/her spouse each calendar year and not be required to file a gift tax return.
