April 2015 Tax Snacks


Tax Snacks: Bite-size tax news and information on the fly

Dates to Remember

May 15:
    • Exempt organizations’ 2014 tax returns (Form 990 series) are due for calendar-year entities.
June 15:
    • 2nd quarter estimated income tax payments are due for individuals and taxable calendar-year corporations.
June 30:
    • Form FinCEN 114 is due, reporting direct and indirect ownership or control of certain foreign financial holdings.

FinCEN 114 (Foreign Account Holdings)

U.S. individuals or corporations who own or have signature authority over any foreign financial account that had a balance exceeding $10,000 at any time during 2014 may have to file Form FinCEN 114 (formerly TD F 90-22.1). Much more information can be found in this article or the links provided in it. As noted above, the name of the form has been changed. More significantly, beginning with the previous year’s filings, the form must be e-filed; paper filing no longer is allowed.

Where’s My Refund?

Obtaining tax refunds is of course enjoyable, although tempered somewhat by the realization that it was your money to begin with! If your personal tax refund is dragging its feet, note that many tax jurisdictions offer methods of checking the status online. Here are links to a few that you may find helpful.

Disclaimer of Liability: This publication is intended to provide general information to our clients and friends. It does not constitute accounting, tax, or legal advice; nor is it intended to convey a thorough treatment of the subject matter.