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What is the normal due date for the tax return of​ calendar-year taxpayers? What happens to...

What is the normal due date for the tax return of​ calendar-year taxpayers? What happens to the due date if it falls on a​ Saturday, Sunday, or​ holiday?

A. The normal due date for​ calendar-year individuals, partnerships and​ calendar-year corporations is April 30. The normal due date is delayed to the next Tuesday that is not a​ Saturday, Sunday or holiday. If the normal due date falls on​ Saturday, Sunday, or​ holiday, it is delayed to the next Tuesday.

B. The normal due date for individuals and partnerships is April 30. The normal due date for​ calendar-year corporations is March 31. The normal due date is delayed to the next Tuesday that is not a​ Saturday, Sunday or holiday. If the normal due date falls on​ Saturday, Sunday, or​ holiday, it is delayed to the next Tuesday.

C. The normal due date for​ individuals, partnerships and​ calendar-year corporations is April 15. If the normal due date falls on​ Saturday, Sunday, or​ holiday, it is delayed to the next day that is not a​ Saturday, Sunday, or holiday.

D. The normal due date for​ calendar-year individuals and C corporations is April 15. The normal due date for​ calendar-year partnerships and S corporations is March 15. If the normal due date is a​ Saturday, Sunday, or​ holiday, the normal due date is delayed to the next day that is not a​ Saturday, Sunday, or holiday.

Solutions

Expert Solution

As per IRS, the Normal due for the tax return of calendar year ( ends on 31st December)  taxpayers is generally 15th April of each year.

If you use a fiscal year (tax year ending on the last day of any month other than December), your return is due on or before the 15th day of the fourth month after the close of your fiscal year.

If your due date falls on a Saturday, Sunday, or legal holiday, the due date is moved to the next business day in both cases whether calendar year or Fiscal year is followed.

Hence, as per the above laws option (C) is correct which conveys the same meaning ----The normal due date for​ individuals, partnerships and​ calendar-year corporations is April 15. If the normal due date falls on​ Saturday, Sunday, or​ holiday, it is delayed to the next day that is not a​ Saturday, Sunday, or holiday.

Option (A), Option (B) are incorrect as due date is incorrect and Option (D) is incorrect as there is no such classification of individuals & C corporations and partnerships & S corporations regarding due date. Only classification is fiscal year and calendar year.

ekkarill92 answered 8 months ago
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