All individual taxpayers with April 15^th deadlines automatically have additional time, until May 17^th to file 2020 IRS and CA FTB filings and make payments without interest or penalties. 

2021 Tax Updates:

1. The IRS announced that it is moving the April 15th, 2021, filing deadline to May 17th, 2021, for individual taxpayers (including Schedule C filers) ONLY!
2. S Corporation and Partnership Tax Filing Deadline was March 15^th
3. 2021 Q1 Estimated tax payments are still due 4/15/2021.
4. Trust tax returns due 4/15/2021.
5. Unemployment: The ARPA provides for an exclusion of up to $10,200 of unemployment compensation for households with up to $150,000 of modified AGI for the 2020 taxable year only. (ARPA §9042; IRC §85(c)). The IRS is advising taxpayers NOT to file an amended return to claim this benefit.
6. Healthcare Premium Tax Credit: The Premium Tax Credit repayment requirement is repealed for taxpayers whose 2020 subsidies (which were based on income estimated from tax returns for prior years) were higher than the amount that they were actually entitled to.

Individual Tax Returns Tax Filing Deadline is May 17^th

Individual (1040) tax returns and payments are due May 17^th.  Please contact Roxana@taxplus.com (Los Angeles) or Rita@taxplus.com (San Diego) to request an extension of time to file until October 15^th. Remember it is an extension to file, not an extension to pay your taxes. If there is a balance due on the return, interest will be assessed in addition to the tax.  We can help you determine an estimated tax payment to make with the extension in order to limit interest charges. 

Note: 2021, 1^st quarter estimated payments are due April 15^th, 2021.

California Single Member LLCs Tax Filing Deadline is May 17^th

Single Member LLCs (Form 568) not owned by a pass-through entity are due May 17th. Please contact Roxana@taxplus.com (Los Angeles) or Rita@taxplus.com (San Diego) to request an extension of time to file until October 15^th. The minimum franchise tax fee is due April 15th.

Note: 2020 LLC fees (and 2021 estimated LLC fees) are due April 15^th.

C Corporation Tax Filing Deadline is April 15^th

C corporation (1120) tax returns are due April 15^th.  Please contact Roxana@taxplus.com

(Los Angeles) or Rita@taxplus.com (San Diego) to request an extension of time to file until October 15^th.

Note: 2020 Corporation and LLC (taxed as C-Corp.) fees (and 2021 estimated LLC fees) are due April 15^th.

S Corporation and Partnership Tax Filing Deadline was March 15^th

S corporation (Form 1120S) and partnership (Form 1065) tax returns for entities who use the calendar tax year were due March 15^th.   Your 6-month extension to file extends your deadline to file to September 15^th.

Note: 2020 S Corporation and LLC (taxed as S-Corp.) fees (and 2021 estimated LLC fees) are due April 15^th.

• SBA Payment Protection Program Round 2 (PPP2) applications extended to 05/31/21.  Call us for general guidance and support with documentation.
• SBA Economic Injury Disaster Loan (EIDL) applications have reopened. Call us for general guidance and support with documentation.
• We have switched to working exclusively by phone or video conference with great results!  Call or e-mail to review our virtual tax process and we’ll minimize your taxes remotely. 

Please contact Brenda@taxplus.com or Izaira@taxplus.com or call 310.398.3231 to request a phone or video conference with one of our Enrolled Agents.  Contact Rita@taxplus.com  or call 858.279.1640 for our San Diego office.

Additionally, please contact Roxana@taxplus.com (Los Angeles) or Rita@taxplus.com (San Diego) for any extension requests.

We look forward to working remotely with you!

TaxPlus Team