Filing Deadlines for CPA Firm of Rene Sarkhosh & Associates, Inc.

Individual returns must be filed by April 15th of each year. Our office requires you to have your information to us by March 15th, so that we have enough time to prepare the return. If your return is not finished by April 10th, our office will file an extension for you. We highly recommend that you pay any taxes owed for this return. Since we do not know exactly how much that is, we recommend that you overestimate the amount. Any excess payment will then be applied to your current year, first quarter estimated tax payment. We recommend this because an extension is not an extension for time to pay, it is only an extension for time to file. In fact, your taxes are owed during the year that you are working and earning your income. When you don’t pay your tax during the year you are earning income, either in the form of withholdings from your paycheck or through estimated tax payments, you will end up paying additional interest and penalty. These penalties increase after April 15th. The extension we file for you is only good for six months. This means your return will be due by October 15th. You will need to give us your information a month prior to that, to ensure we have plenty of time to work on your return.

Business returns must be filed by March 15th of each year (assuming your business has a calendar year end). Our office requires you to have your information in to us by February 15th, so that we have enough time to prepare the business return. If your return is not finished by March 10th, our office will file an extension for your business. We highly recommend that you pay any taxes owed for this return. Since we do not know exactly how much that is, we recommend that you overestimate the amount. Any excess payment will then be applied to your current year, estimate tax payment. We recommend this because an extension is not an extension for time to pay, it is only an extension for time to file. In fact, your taxes are owed during the year that you are working and earning your income. When you don’t pay your tax during the year you are earning income, in the form of estimated tax payments, you will end up paying additional interest and penalty. These penalties increase after March 15th. The extension we file for you is only good for six months. This means your return will be due by September 15th. You will need to give us your information a month prior to that, to ensure we have plenty of time to work on your return.

Regular corporations, however, can file their return with the extension of October 15th.

In California, business filers will also need to pay their 1st quarter estimated tax payment. A minimum of $800 is due by April 15th.