Accounting News and Notes

Georgia LLC Corporations and Georgia LLP Corporation Returns are Due April 15, 2009

Georgia S Corporations and Georgia C Corporation Returns are Due April 15, 2009

-2009 Tax Deadline News by Atlanta Christian CPA, Speaker and Author

The 2009 Tax Deadline for filing of your 2008 Georgia Corporate LLC & Georgia LLP 2008 Income Tax Returns is  April 15, 2009. Therefore all calendar year corporations are due by that date. If for any reason you are not able to file your return by the due date both the IRS and state allows you to extend your return for six months. However don’t let the extension “fool you.” An extension to file is not an extension to pay as both the IRS and states require you to pay your taxes as you go. Corporate taxpayers, as well as individual ones, since World War II are required by tax law, to pay taxes as they make the money during the year. LLC’s and LLP’s are both “flow through” entities and as such the earnings from a Partnership Return/Form 1065 flows down to and is reflected on the individual returns on the owners. Therefore all of the tax planning issues, estimated tax payments to both the IRS and state, and any tax payment monies due with the extensions should be evaluated and considered at the individual owner/partner’s personal income tax return level.

If for any reason you cannot file your return by the original due date the IRS allows for an automatic six month extension, which must be filed by the original due date of the return. Taking care to ensure that you have paid all of the tax obligations that are due will help you avoid unnecessary penalties and interest in the future.

Other issues to be concerned about when doing the extension are for  each personal shareholder’s other income, itemizations, exemptions, etc. should be considered and carefully contemplated when extending LLC’s and LLP’s Partnership returns and their related owner’s personal returns. Keep in mind that the extension of the corporate return does not also automatically also extend the personal return which is due on April 15, 2009.

John Dillard is a Christian Speaker/Author and Certified Public Accountant (All Rights Reserved). To See how he takes Christ along with him to work visit http://www.hiscpa.com/ (An Atlanta  CPA firm) and for his latest book Overcoming Life’s 9/11’s: Job’s Journey and to learn about his ministry visit http://www.john-dillard.com/ To contact John Dillard CPA (Atlanta Christian Author/Speaker) today call 770. 814.9304 proudly serving Duluth, GA, Gwinnett County and Beyond.

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What, then, shall we say in response to this? If God is for us, who can be against us? Romans 8:31

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