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XYZ Corporation has a December 31 year-end. ​ a. When is XYZ Corporation’s tax return due?...

XYZ Corporation has a December 31 year-end.

​

a. When is XYZ Corporation’s tax return due?

b. When does XYZ Corporation need to make its estimated tax payments?

c. Assuming that XYZ Corporation owes $5,000 on the original tax return due date and it files for an extension and is granted an automatic extension to file tax returns, what is the extended tax return date and when should taxes be paid?

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Homework Answers

Answer #1

Answer 1

March 15th

In case of corporation, the tax return due date is the 15th day of the 3rd month following end of tax year.

Answer 2

April 15, June 15, September 15, January 15 of the following year

Answer 3

extended tax return due date = September 15th (six months from the tax return due date)

Extended tax return due date does not extend the due date for tax payments and therefore tax payments date will be the same that is April 15, June 15, September 15 and January 15 of the following year.

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