Upcoming Tax Deadlines

Many taxpayers elected to file an extension to get extra time to file their 2020 federal tax returns, beyond the initial deadlines. However, these extended deadlines are coming up soon. If you have not yet filed your personal or business return for 2020, make sure you are prepared to file by the appropriate due date. The deadline for third quarter estimated payments is also right around the corner.

Businesses:

The extended deadline for partnerships, multi-member LLCs classified as partnerships, and S-corporations is Wednesday, September 15th.

The extended deadline for C corporations is Friday, October 15th.

Individuals:

Individual filers who have requested an extension have until Friday, October 15th to file their returns.

Trusts and Estates:

Trusts and estates filing Form 1041 have an extended deadline of Thursday, September 30th

Estimated Payments:

Third quarter estimated payments for both federal and Tennessee taxes are also due on Wednesday, September 15th.

If you’re considering filing an amended return for 2018 or 2019, be sure you know when it’s due. Generally, an amended return that results in a tax refund is due by the later of:

• Three years after the original return was timely filed (including extensions), or
• Two years after the tax was paid.

So, for example, if you filed and paid your 2018 tax return by its April 15, 2019, due date, the due date for an amended return would be April 15, 2022 — even if you filed your original return early. Note: If you obtained an extension to October 15, 2019, but filed your return before that date, the due date for an amended return would be three years from the actual filing date.

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