Frequently Asked Questions
Where's My Refund?
Where Do I Make Payments?
What Should I Know If I'm Self-Employed?
How Do I Find My IRS Identity Protection PIN (IP PIN)?
Where's My 1095-A?
Tax Calendar - 2024
| Entity | Due Date | Extended Due Date |
| Individual Form 1040 | April 15 | October 15 |
| Individual Estimated Tax Payment Schedule |
1Q - April15, 2Q - June 15, 3Q - September 15, 4Q - January 15 |
N/A |
| Form 1065 | March 15 | September 15 |
| S Corporation Form 1120S | 15th day of the third month following the fiscal year end | One 6 month extension may be granted |
| Corporation Form 1120 | 15th day of the third month following the fiscal year end | One 6 month extension may be granted |
| Orgaization Form 990 | 15th day of the third month following the fiscal year end | Two 3 month extensions may be granted |
| Employee Benefits Plans Form 5500 | Last day of the 7th month following Plan year end | 15th day of the 10th month following Plan year ended |
| Payroll Tax Returns Forms 941, DE6, etc. | Quarter Ended March 31 Return due April 30 Quarter Ended June 30, Return due July 31 Quarter Ended September 30, Return due October 31 Quarter Ended December 31, Return due January 31 |
N/A |
RECORDS RETENTION
| Accounting Records | Keep For |
| Accounts payable | 7 years |
| Accounts receivable | 7 years |
| Audit reports | Permanent |
| Chart of accounts | Permanent |
| Depreciation schedules | Permanent |
| Expense records | 7 years |
| Financial statements (annual) | Permanent |
| Fixed asset purchases | Permanent |
| General ledger | Permanent |
| Inventory records | 7 years (or Permanent for LIFO system) |
| Loan payment schedules | 7 years |
| Purchase orders (1 copy) | 7 years |
| Sales records | 7 years |
| Tax returns | Permanent |
| Bank Records | Keep For |
| Bank reconciliations | 2 years |
| Bank statements | 7 years |
| Cancelled or substitute checks | 7 years (Permanent for real estate purchases) |
| Electronic payment records | 7 years |
| Corporate Records | Keep For |
| Board minutes | Permanent |
| Bylaws | Permanent |
| Business licenses | Permanent |
| Contracts - major | Permanent |
| Contracts - minor | Life of contract + 3 years (Liability can vary, check with your agent) |
| Insurance policies | Permanent |
| Leases/mortgages | Permanent |
| Patents/trademarks | Permanent |
| Shareholder records | Permanent |
| Stock registers | Permanent |
| Stock transactions | Permanent |
| Employee Records | Keep For |
| Benefit plans | Permanent |
| Employee files (ex-employees) | 7 years (Or statute of limitations for employee lawsuits) |
| Employment applications | 3 years |
| Employment taxes | 7 years |
| Payroll records | 7 years |
| Pension/profit sharing plans | Permanent |
| Real Property Records | Keep For |
| Construction records | Permanent |
| Leasehold improvements | Permanent |
| Lease payment records | Life + 4 years |
| Real estate purchases | Permanent |
Begin Your Tax Journey With Homer, Stenger & Co.
