The September 15 deadline for S‑corporations, explained
If your S‑corporation or partnership filed an extension in March, its return is due September 15. Here’s what to send, and what happens if it’s late.
Most S‑corporations and partnerships file an extension in March. That extension gives six more months to file the return, but it doesn’t move any tax the owners owe, and it ends on September 15.
What to send us now
- Year-end bank and loan statements
- Your final profit and loss report and balance sheet
- Any equipment you bought or sold, with dates and prices
- Owner distributions and health insurance paid by the business
What a late return costs
The IRS charges a penalty for each shareholder or partner, for each month the return is late, for up to 12 months. For a business with three owners, a few weeks late can cost more than the return itself.
If you can’t finish in time
Call us before the 15th. There’s no second extension, but a return filed a few days late with a clear explanation is often eligible for first-time penalty relief.
General information about federal and Kansas tax rules, not advice for your situation. Rules change; talk to your preparer before acting.
