Three Important Tax Deadlines Are Coming Up

If you're responsible for a nonprofit (tax-exempt) organization, have financial accounts in a foreign country, or need to pay some or all of your 2013 taxes through quarterly estimates, the following deadlines could be important for you:

MAY 15

Deadline for calendar-year tax-exempt organizations to file annual reports with the IRS. If the organization has gross receipts below $50,000, it can file an E-postcard rather than a longer version of Form 990. 

JUNE 17

* Second installment of individual estimated tax for 2013 is due.

* Second quarter 2013 estimated tax payment is due for calendar-year corporations.

JUNE 28

The Foreign Bank Account Report (commonly called FBAR) must be filed if you have assets in a foreign account and the total value exceeds $10,000 at any time during the year. The FBAR is an annual information form, filed separately from your federal income tax return. The 2012 FBAR must be received (not just postmarked) by the Treasury Department no later than June 28, 2013. No extension is available, and penalties for failing to file are steep. You can also file electronically.

Please contact our office soon if you need assistance with any of these filing responsibilities.