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Adjust deadlines to fit your fiscal year

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If you operate on a fiscal-year schedule for tax purposes, rather than the usual calendar-year schedule, your due dates for each quarter will line up differently. Using the 2007 calendar, here’s how you should calculate your deadlines:

Personal tax deadlines
  • Annual tax returns. Your personal tax return (Form 1040) is due on the 15th day of the fourth month following the close of your tax year.

  • Estimated tax payments. The first three quarterly installments of estimated tax (Form 1040-ES) are due on the 15th day of the fourth, sixth and ninth months of your tax year. The fourth and final installment is due on the 15th day of the first month following the close of your tax year.
Corporate tax deadlines
  • Annual tax returns. Your annual corporate return (Form 1120 or 1220-S) is due on the 15th day of the third month following the close of your corporation’s tax year. S corporations must provide each shareholder with a copy of Schedule K-1 or a substitute Schedule K-1.

  • Estimated tax payments. The quarterly installments of estimated taxes are due on the 15th day of the fourth, sixth, ninth and 12th months of the corporation’s tax year.

  • Switching to an S corp. If you’re electing S corporation status (Form 2553), the deadline is the 15th day of the third month of the year in which the election will apply. Note: You can make the election anytime during the preceding tax year.
Partnership tax deadlines
  • Annual returns. Your annual partnership return (Form 1065) is due on the 15th day of the fourth month following the close of the partnership’s tax year. Partnerships must provide each partner with a copy of Schedule K-1 or a substitute Schedule K-1.

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