Posts Tagged ‘Penalty’


4 Reasons NOT to Wait for Your K-1

Four on dices

Subchapter S corporations (“Sub S”), partnerships, limited liability companies (“LLC’s”) and estates and trusts issue form K-1’s. This form documents the stockholders, partners, members or beneficiaries share of their profit or loss from the entity.  Don’t wait for this form to get started on your income tax return.


4 Easy Steps to Prepare Your Connecticut Personal Property Tax Declaration

The figure four is drawn by a white paint

For Connecticut business owners their 2013 personal property tax declaration report is due by November 1, 2013.  A report must be filed in each town that the business owns personal property. Unlike real estate and vehicles, personal property is self-reported.  With real estate the town will periodically do an … Continue reading »


4 Reasons to Get IRS Form W-9

 

1) Two Simple Questions That Taxpayers Will Need to Answer Carefully This Year

Two simple questions were added to the income tax returns last year.  These were:

“Did you make any payments in 2011 that would require you to file Form(s) 1099?”

“If “Yes,” did you or will you file all required Forms 1099?”


How (and When) to File an Income Tax Extension

Due Date

The federal income tax returns are normally due on April 15th. This year, the 15th falls on a Sunday, so the due date should be Monday the 15th. However, Monday the 16th is Emancipation Day so the due date is Tuesday 17th. Some people aren’t prepared to file. Others may be waiting for Form K-1’s from their investments. Either way, if the return is not filed on time, an extension will need to be filed.

Federal Extension

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2 Simple Questions That Taxpayers Will Need to Answer Carefully This Year

Do you file a Schedule C, Profit or Loss From Business or Schedule E, Supplemental Income or Loss (From Real Estate or Partnerships)? If so, you will notice there are 2 simple questions that have been added to these forms. They are:

“Did you make any payments that would require you to file Form(s) 1099?”

“If “Yes,” did you or will you file … Continue reading »


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