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Brainerd Office

Tel:         423-622-3156

Fax:        423-698-1706
Email:      eric@ejpelton.com
Address:  4412 Brainerd Road

              Chattanooga, TN 37411

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Soddy Daisy Office

Tel:        423-332-3339

Fax:       423-401-7049
Email:     tim@ejpelton.com
Address:
10327 Dayton Pike

              Soddy Daisy, TN 37379

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The Clock is Ticking: 60 Days Until the Deadline For Many Business Owners

July 13, 2016

      With two months to go, I thought this week's article might serve as a reminder that for many business owners, the last day to file returns is September 15th.  While the actual due date passed on March 15th, the  6-month extension commonly filed is set to expire and brings forth stiff penalties to those who are in violation.  

 

     For those business owners structured as  S-Corporations and Partnerships, this means a penalty of $195 per partner, per month.  No further extensions are available, and left un-filed, this can result in an exponential waste of money to be paid to the IRS.  Instead of scrambling at the last minute in pandemonium, let this serve as a call to get your paperwork together and begin methodically preparing your return now.

 

     As always, if you have questions, or would like professional assistance, you can reach me at 423-622-3156.  Tax Preparation shouldn't be a sprint, and with our help it doesn't have to feel like a marathon either.

 

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