Tax & Accounting Blog

GoSystem Tax RS 1120 Corporate Deadlines

CS Tax & Asset Management Solutions February 19, 2014

The IRS has announced deadlines for 1120 Corporate filing. Calendar-year returns and extensions are due by 11:59 p.m. local time on Monday, March 17, 2014.

Note: We strongly recommend that you transmit returns and extensions at least one hour prior to the deadline.

Perfection Period for Returns

Rejected calendar-year returns that were filed on time, on March 17, 2014, must be re-transmitted electronically within 10 calendar days of the deadline (11:59 p.m. local time on March 27, 2014) to avoid penalties.

Perfection Period for Extensions

Rejected extensions that were filed on time, on March 17, 2014, must be retransmitted electronically within five calendar days of the deadline (11:59 p.m. local time on March 22, 2014) to avoid penalties.

Although many states follow the federal due dates, deadlines may vary for each state. If you have questions or concerns, please verify the due dates with the applicable state agency.

GoSystem Tax RS creates an electronic postmark that bears the date and time (Central time zone) of receipt when the electronic file is received at our host computers. If timeliness of the filing is in question, the IRS will use the electronic postmark adjusted to the local time of the preparer.

For example, if the preparer is located in the Eastern 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 time zone, two hours would be subtracted from the electronic postmark.