Tax & Accounting Blog

Fall Deadlines

CS Tax & Asset Management Solutions August 22, 2014

The fall busy season is on its way! It’s time to mark your calendars for these upcoming important deadlines.

Calendar-year 1120 and 1065 returns on extension from Form 7004 are due on September 15, 2014. We create an electronic postmark bearing the date and time when the electronic file is received at our host computer (all times are listed in Central Standard Time). If timeliness of filing is in question, the IRS will use the electronic postmark adjusted to the time zone of the preparer. For example, if the preparer is located in the Eastern Standard Time zone, one hour would be added to the electronic postmark to determine the filing time. Conversely, if the preparer is located in the Pacific Standard Time zone, two hours would be subtracted from the electronic postmark.

To ensure that you receive a timely electronic postmark, you should allow time for potential transmission issues when submitting your returns.

Rejected returns that were filed on time by September 15, 2014 must be retransmitted electronically within 10 calendar days to avoid penalties. This year, rejected returns that were filed on time must be retransmitted by September 25, 2014.