As we turn the corner on a new year, it is important to be aware of important tax deadlines and dates for filing your 2020 tax returns, so that you can be prepared and avoid headaches and penalties. In 2020, the IRS extended tax deadlines in response to COVID-19. Generally, deadlines for annual returns are in the spring with extensions available until the fall. Although dates are always subject to change, no such provisions have been enacted to date for this year.
Business owners today have access to a great deal of financial information, and the sheer volume of information creates challenges.
Not only does sorting through the data take time, but business owners also need to know where to find relevant information and how to use the information when evaluating options.