Deadline differences?

[thomtax]

In another thread, there have been comments that if filing a corp. return that is on extension, it had to be filed on the 15th if filing electronically, but that you could mail it on Monday, the 17th. Is there really adifferent deadline between the two?

[Jiggers]

Corporate Deadline

Per Drake on their forum, the due date for corporations on extension is Monday, 9/17. Doesn't make any difference if e-filed or a paper return. Both have the same deadline.

[thomtax]

Thanks Jiggers,

That is what I thought, but in the thread "c corp by default" some of the posters had commented that if you filed by paper, you could wait until Monday, as if Saturday was the last day for electronic and it got me questioning myself.

I was going to call Drake support when they open Monday, but will not need to now.

Thanks again.

[JohnH]

I was one of the responders

A post had stated that the deadline was 3pm on Saturday. I just accepted that as fact because I don't efile and assumed the poster knew their efile deadlines, but I responded that a paper return was OK if filed by Monday because I knew that to be true.

[thomtax]

Thanks for your reply John. It was the 3PM deadline that had me questioning if I was wrong. I am the type that when someone tells me something that does not fit with what I thought, I do not automatically argue, I start double checking.

Best of luck and again, thanks.

[S T]

I think

The deadline differences are through the software providing the efile services, in order to have receipt for timely filing.

Seems like Linda's software provider will only offer timely submission and acceptance as of the date and time she posted.

Sandy

[oceanlovin'ea]

Software deadline

To file electronically with TaxslayerPro, we had a message that we needed to file our returns by 5 pm on Saturday in order to be timely filed. I had somewhere to be at 3 PM, so I had to get mine done even sooner.

But I am listening to the advice from the board and will have her mail a zero c corp return and then file as schedule C. Then I will have them look into making sure they can get their workers comp exemption with a LLC.

Each software company is different.

Linda F

[S T]

Work Comp Exemption

Linda, I guess because maybe it is Florida, however, I am not understanding the Work comp Exemption.

If they have employees, taxpayer would need work comp to cover any employees on payroll. If it is for owners/shareholders, work comp usually exempts them. I have S Corps in California 2 shareholders, and we can exempt the shareholders from Work Comp, only cover the hourly employees.

In one S Corp that I have here in Calif, we exempt the 80% shareholder from Work Comp, but do pay Work Comp for the 20% shareholder along with all other employees.

I don't think Work Comp issues are a valid reason for creating a S Corp or Partnershirp or a LLC for that matter.

Sandy

[oceanlovin'ea]

Florida

Florida law says that in order to be exempt from workers comp they must be a corporation. Then as the owner/shareholder they can exempt themselves. If they don't do this, they can't get the exemption. Then contractors won't hire them to work on a jobsite for fear of getting shut down.

I just looked up the information on workers comp exemption and it does state a corporatioon or LLC. So I am going to talk to both of these 2 people and suggest they dissolve their corporations and form LLC's.

[ecb34691]

FL Workers Comp

FL passed a law a couple of years ago affecting only the construction industry. They told all of the Sch C type people that they had to incorporate to get a wavier for WC. There were legal shops set up in the Tampa area that charged these Sch C people $500 - $750 to incorporate and told them nothing about taxes, so they continued to operate as Sch C and not corps, ie. no salary, no bank accounts, etc. It was only later that the "fine print" said they could become a LLC and get the wavier. Most that I've seen don't have any employees, maybe a 1009MISC sometimes, truly "mom & pop operations".