Frequently Asked Questions
What is the due date for my tax returns?
For 2023 tax returns, the due dates are as follows.
March 15, 2024 & extended due date September 16, 2024
Form 1065 partnership tax return
Form 1120 S-corporation tax return
April 15, 2024 & extended due date October 15, 2024
Form 1040 individual income tax return
Form 1041 trust tax return
Form 709 gift tax return
Form 1120 C-corporation tax return
May 15, 2024 & extended due date November 15, 2024
Form 990 and Form 990-EZ nonprofit tax returns (calendar year filers only)
Where shall I go to pay my income taxes and estimated tax payments online?
https://www.irs.gov/payments/direct-pay
https://www.colorado.gov/pacific/tax/income-tax-individual-pay
What is the due date for my quarterly estimated income tax payments for 2024?
For 2024 taxes, the due dates for estimated payments are as follows:
1st quarter = April 15, 2024
2nd quarter = June 17, 2024
3rd quarter = September 16, 2024
4th quarter = January 15, 2025
What is the due date to make a contribution to my retirement account or health savings account for tax year 2023?
April 15, 2024 for the following:
Traditional IRAs
Roth IRAs
HSA’s
SEP IRAs and solo 401(k)s for sole proprietors (Schedule C) only
Important! If your business is an S-corporation (Form 1120-S) or a Partnership (Form 1065), the due date is March 15, 2024. If you extended either of these business tax returns, the retirement contributions due date is also extended until September 16, 2024.
How long will it take for me to receive my income tax refund?
Most refunds are sent within about 10 days after we electronically file your income tax returns. Requesting direct deposit into your bank account will help your refund to get there faster and is actually safer than having it mailed. You can check the status of your refund here:
IRS Business Mileage Rates
If you used your automobile for business purposes (not including commuting) you may deduct and 65.5 cents for mile for 2023 and 67 cents per mile for 2024. You must keep a mileage log (an app is fine) to record the date and business purpose for your trip.
Corporate Transparency Act - Beneficial Ownership Information
The Corporate Transparency Act is set to go into effect January 1, 2024 and requires disclosure of beneficial ownership information (BOI). It's not part of the tax code, but part of the Bank Secrecy Act. That means that the reports will be filed with the Financial Crimes Enforcement Network (FinCen) which is part of the Department of Treasury. Existing entities will be required to file by January 1, 2025. The reporting forms are not available yet. In addition, the AICPA is lobbying for a one-year delay in the implementation of this new act. We will update this when we know more.