Tax & Accounting Blog

Return and Extension Deadlines for Electronic Filing

CS Tax & Asset Management Solutions September 4, 2013

Avoid potential transmission issues by knowing the upcoming deadlines and allowing sufficient time when filing returns.

1120 and 1065 Returns

Calendar year 1120 and 1065 returns on extension from Form 7004 are due on September 16, 2013. When you file, our host computer receives an electronic postmark bearing the date and time that the electronic file is received (all times are listed in Central time). If timeliness of filing is in question, the IRS will use the electronic postmark adjusted to the time zone of the taxpayer. For example, if the taxpayer is located in the Eastern Time zone, one hour would be added to the electronic postmark to determine the filing time. Conversely, if the taxpayer is located in the Pacific Time zone, two hours would be subtracted from the electronic postmark.

Rejected returns that were filed on time by September 16, 2013 must be retransmitted electronically within ten calendar days to avoid penalties. This year, rejected returns that were filed on time must be retransmitted by September 26, 2013.

1120 electronically filed returns payment options:

  • For balance due returns, an electronic funds withdrawal may be completed with the electronically filed return. This option can be found under Organizer > Electronic Filing > Step 3 – Direct Deposit or Debit.
  • For balance due returns, the scheduled payment must be effective on or before the return due date. For returns transmitted after the due date, the payment date must be the same as the date the return is transmitted to the IRS.
  • For returns with a refund reported, a direct deposit may be authorized. This option can be found under Organizer > Electronic Filing > Step 3 – Direct Deposit or Debit.

1065 electronically filed returns payment options:

  • For balance due returns, an electronic funds withdrawal may be completed with the electronically filed return. This option can be found in Organizer > Electronic Filing – Return > Electronic Filing – Return > Step 3 – Direct Debit.
  • The scheduled payment must be effective on or before the return due date. For returns transmitted after the due date, the payment date must be the same as the date the return is transmitted to the IRS.