Filing Deadlines for Form 1120 and Form 1041

The deadline for submitting a timely filed calendar year Form 1120 Corporate tax return or an extension and a Form 1041 Estate and Trust return or an extension is Tuesday, April 17th, 2018. Returns and extensions will be considered timely filed if they are postmarked by April 17th or electronically filed by midnight on April 17th. To ensure that all transmissions are considered timely filed, please have all returns and extensions submitted to TaxSlayer Pro no later than 11:59 PM local time on Tuesday, April 17th. We advise finalizing and transmitting any 1120 Corporate or 1041 Estate/Trust returns or extensions well before the midnight deadline.

If you are filing an extension (Form 7004) for a Corporation, the automatic extension extends the deadline for filing the return until October 15, 2018. It does not extend the payment deadline. To include an electronic payment with the extension, fill out the Form 7004 Electronic Payment information in the Electronic Extension E-File Menu in the return. Form 7004 is created from inside the 1120 return by selecting 12-Miscellaneous.

If you are filing an extension (Form 7004) for a 1041 entity (Estate or Trust), the automatic extension extends the deadline for filing the return until October 1, 2018. It does not extend the payment deadline. To include an electronic payment with the extension, fill out the Form 7004 Electronic Payment information in the Electronic Extension E-File Menu in the return. Form 7004 is created from inside the 1041 return by selecting 9-Application for Extension .

A 10-day perfection period applies to any electronically filed 1120 Corporation and 1041 Estate and Trust returns that were filed and rejected by the filing deadline. The IRS considers returns that are retransmitted electronically and accepted within 10 calendar days of the date a return was rejected as timely filed returns. (IRS Pub. 4163, page 57).

A 5-day perfection period applies to any electronically filed Form 7004 requesting an extension for a 1120 Corporation or a 1041 Estate or Trust that were filed and rejected by the filing deadline. The IRS considers extensions that are retransmitted electronically and accepted within 5 calendar days of the date the extension request was rejected as a timely filed extension. (IRS Pub. 4163, page 57).

Many state returns can be e-filed with the federal return, however there are some states that do not accept business returns or extensions via e-file. If the “Electronic Information Menu” within the state return is not accessible, the state is not eligible for electronic filing and must be mailed.

We highly recommends running the following reports to ensure that all of your business returns and extensions have been submitted and accepted:

  • Business Returns Not Accepted Report
  • Business State Returns Not Accepted Report
  • Business Electronic Extensions Not Accepted Report

To run and print these reports, from the Main Menu of the program select:

4 – Business
9 – Electronic Filing Menu
3 – Print Reports
5 – Returns Not Accepted

1 – Returns Not Accepted Report
3 – State Returns Not Accepted Report
5 – Electronic Extensions Not Accepted Report

To determine why a return or extension is listed on the report, look at the Acceptance Code Column (A/R or Acc Code depending on the report) and the Transmission Date Column (Tran Date). If there is an R in the Acceptance Code column, the return/extension has been rejected. Review your business acknowledgements report for the reject code, or use the View Entity Status feature from the Business Main Menu to determine why the return/extension was rejected.

If a return does not have a code in the Acceptance column, look at the Transmission Date column. If there is not a date listed, this return/extension has not yet been transmitted. You will need to transmit the return/extension.

Finally, before submitting any business returns or extensions, please make sure you have downloaded and installed the latest Federal and State Business Updates.