Promises, promises… But did any of us really think our dysfunctional federal government would get anything done? Actually, yes, we sort of did! We at least thought there would be changes to Obamacare. We weren’t really holding our breath on tax reform though. Alas, they have done nearly nothing, well, except collect our taxes at record high levels.
If you are in a recently Federal Designated Disaster Area, you get a bonus extension on time to file this year’s (Tax Year 2016) taxes. It’s usually 90 days, but we recommend you get them filed in a timely manner anyway if at all possible. The due date for Partnership and S-Corp Returns under extension is 9/15/2017. The due date for all personal returns under extension is 10/16/2017. Please don’t wait until the week before your due date to get your information over to us or make an appointment!
If you pay estimated taxes, your next payment is due on 9/15/2017!
I usually tell people it’s time to get ready for next year’s taxes right around this time of year, but frankly, we don’t know what Congress will do, if anything! So, until we know otherwise, we recommend you assume Congress will do nothing (ha, what a reach!) and these tips still apply: http://www.taxfacts.com/2016/11/29/year-end-tax-tips-3/