KPMG Spark Blog

2020 Tax due dates for exempt organizations

Exempt organizations, like corporations, individuals, and everything in between, must stay informed of important tax due dates.

Tax season can be stressful for everyone - even tax-exempt organizations. Exempt organizations, like corporations, individuals, and everything in between, must stay informed of important tax due dates. Watch out for these 2020 tax due dates for exempt organizations:

Tax Return Due Dates

Original return or 6-month extension due date (for calendar year Corporations) 5/17/2021 If there is a payment required with the return, it is due by the original due date of the tax return to avoid a late payment penalty and interest
Extended due date of Form 990-T 11/15/2021

Estimated Tax Due Dates

Q1 Estimated tax payment: 4/15/2021

Q2 Estimated tax payment: 6/15/2021

Q3 Estimated tax payment: 9/15/2021

Q4 Estimated tax payment: 12/15/2021

*If the Organization has a year-end other than 12/31, the original due date of the return is the 15th day of the 5th month after the end of its tax year

Don’t let one of these important dates slip your mind this year! KPMG Spark is in your corner, making sure your business is ready for tax season. Our bookkeepers can help you navigate your financials, from daily expenses to tax milestones. Be more prepared than ever for tax season and schedule a consult with us today!

Click here for more information about 2020 Tax due dates for multi-member LLCs (partnerships)

 

 The views and opinions expressed herein are those of the author and do not necessarily represent the views and opinions of KPMG LLP.

This blog article is not intended to address or provide advice concerning the specific circumstances of any particular individual or entity and does not constitute an endorsement of any entity or its products or services.

Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.

The following information is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230. The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser.

Sam HunterPosted In: Tax Tips

Subscribe

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

KPMG Spark is an online accounting service that saves you time so you can focus on what’s most important for your business.

Planning to Pay Taxes Helps Build a Strong Financial Foundation

In order to run a successful business, you need to have a solid financial foundation. Planning to pay taxes is an important part of building this foundation. Join us as we discuss tax planning strategies to help your business plan for tax season.

KPMG SparkOctober 26, 2021Posted In: Tax Tips

How You Know it's Time to Hire a Bookkeeper

When you first open your business, you might be able to run everything by yourself. Eventually, hiring a bookkeeper will become a vital step to help ensure continual growth for your business. Continue reading for 5 signs that indicate it’s time to hire a bookkeeper for your business.

Alexandra OjalvoOctober 19, 2021Posted In: Business Tips

How Managing Cash Flow Can Help You Build a Strong Financial Foundation

Maintaining a healthy business cash flow is one of the most important building blocks for any business to be able to build a strong financial foundation. Continue reading for a few best practices for ensuring your organization has enough cash on hand.

KPMG SparkOctober 13, 2021Posted In: Business Tips

Why your bookkeeping may be holding you back from business success

Join us to learn how your bookkeeping may be holding back your business from functioning at its peak performance.

Aubry BlackOctober 5, 2021Posted In: Business Tips

Building a Strong Financial Foundation: Stay on Top of Bookkeeping

KPMG Spark works with many business owners and executives to simplify their bookkeeping. Continue reading to learn how keeping up with your bookkeeping will help you build a solid financial foundation for your business.

KPMG SparkSeptember 29, 2021Posted In: Business Tips

Hiring Help: How To Know Whether To Hire an Employee or Contractor?

There are many important differences between an employee and an independent contractor that can affect the financial foundation of your business. Continue reading to learn some of the financial impacts you should consider when making this decision.

KPMG SparkSeptember 22, 2021Posted In: Business Tips

Selecting an Entity Structure Helps Build a Strong Financial Foundation for Your Business

Running a successful business depends on a solid financial foundation. You can have the most sought-after products or services, a killer marketing strategy, and loyal customers, but if you don’t have a solid financial foundation to manage cash flow and support other business decisions, it can all come crumbling down. Continue reading to learn how selecting an entity structure can help build your financial foundation.

KPMG SparkSeptember 1, 2021Posted In: Business Tips

Real-Time Bookkeeping: 5 Valuable Insights You Can Gain From Real-Time Bookkeeping

Real-time bookkeeping uses live data to give you visibility into your current income and expenses, balances, and more. The visibility that real-time bookkeeping provides allows business owners to gain valuable insight into both their finances and businesses. Continue reading for 5 valuable insights you can gain from real-time bookkeeping.

Alexandra OjalvoAugust 24, 2021Posted In: Tax Tips

The importance of having a personalized bookkeeper

Having a personalized bookkeeper can provide valuable benefits to any business owner. A personalized bookkeeper can monitor and organize your business’s daily transactions. Not only that, they can also give you the reassurance and security you want to have about your company’s finances. Join us to learn more about the importance of having a personalized bookkeeper.

Aubry BlackAugust 17, 2021Posted In: Business Tips