"Beware the ides of March," Shakespeare wrote. Well, we have no idea what "ides" are, but we do know our tax deadlines.
Are You Prepared for the March Tax Deadline?
It never hurts to have a reminder about changes in tax laws, because each year brings new ones — especially this year.
You might have changed the structure of your business this year, which could in turn alter your filing status. For example, have you switched from an S corporation to a C corporation? If so, not only are you positioned to possibly pay a lower tax rate — a flat rate of 21% instead of the graduated scale from 15% to 39% — but your filing deadline also moves back from March 15 to April 15.
For S corps, partnerships and multiple-member LLCs, the deadline remains March 15. And don't think that the partial shutdown of the federal government will buy you any additional time. It does not affect any filing deadlines.