Individual income tax returns with approved extensions to meet the bona fide residence test will generally be due on January 30 and must be filed by this date. Individuals who are required to allocate moving expenses, nevertheless, may have been granted an extension up to March 31. Returns mailed and post-marked by USPS or designated Private […]
Background The new QBI deduction, created by the 2017 Tax Cuts and Jobs Act (TCJA) allows many owners of sole proprietorships, partnerships, S corporations, trusts, or estates to deduct up to 20 percent of their qualified business income. Eligible taxpayers can also deduct up to 20 percent of their qualified real estate investment trust (REIT) […]
Individual income tax returns with valid extensions to December 17 must be filed by this date: Form 1040 extended with Form 4868 (or electronic extension payment) and granted additional 2-month discretionary extension; Form 1040NR originally due on April 17, extended with Form 4868, and granted additional 2-month discretionary extension; and Form 1040NR originally due on […]
Individual income tax returns (Form 1040 and Form 1040NR originally due on April 17) with a Form 4868 filed or an electronic extension payment made, are due on October 15. Taxpayers out of country can request an additional discretionary 2-month extension of time to file their returns (to December 17) if they need more time. To request […]
Treasury Secretary Steven Mnuchin said that the new promised postcard return will be released this week. The New York Times has reportedly obtained a draft of the new Form 1040 and posted it in their news article on Monday. The current two-page form is condensed into one page by introducing various new schedules that need […]
Individual income tax returns for expatriates (Form 1040), and nonresident aliens (Form 1040NR) who meet the following conditions are due on June 15 – US citizens and resident aliens who, on April 17, are: Living outside of the United States and Puerto Rico and the main place of business or post of duty is outside the United States and […]
Individual income tax returns (Form 1040 and Form 1040NR) and balance of any tax liability are due on April 17 unless the taxpayer has applied for an extension of time to file (Form 4868 or Form 2350) or meets one of the following conditions: US citizens and resident aliens are eligible for an automatic 2-month extension to June 15 […]
Individual income tax returns with approved extensions to meet the bona fide residence test will generally be due on January 30 and must be filed by this date. Individuals who are required to allocate moving expenses, nevertheless, may have been granted an extension up to March 31. Returns mailed and post-marked by USPS or designated Private […]
Individual income tax returns with valid extensions to December 15 must be filed by this date: Form 1040 extended with Form 4868 (or electronic extension payment) and granted additional 2-month discretionary extension; Form 1040NR originally due on April 18, extended with Form 4868, and granted additional 2-month discretionary extension; and Form 1040NR originally due on […]
Individual income tax returns (Form 1040 and Form 1040NR originally due on April 18) with a Form 4868 filed or an electronic extension payment made, are due on October 16. Taxpayers out of country can request an additional discretionary 2-month extension of time to file their returns (to December 15) if they need more time. To request […]