TAX DEADLINE - FRANCHISE TAX & LLCs

Hello All,

As the tax deadline looms, please be aware of the following; If you have not yet filed your 2019 taxes and you are an LLC or sole proprietor 7/15 is the deadline to file or extend. This year the extension gives us until 3/15/2021. Even if you use a CPA please just reach out and make sure you've been extended. 

This does not give you extra time to pay your taxes. If you want to make a payment on or before 7/15 this is the site to do so  https://www.irs.gov/payments . Payments made after 7/15, regardless of extension, will accumulate late fees and fines.  

The IRS prefers you make estimated taxes throughout the year, and they can penalize you for not having done so. If you are unsure about your tax status, please reach out to me so we can discuss. 

Franchise tax forms are also due on 7/15. Franchise tax applies to all LLCs and corporations in Texas. If you fail to file your business license  can be forfeited. Not sure if this applies to you? When in doubt, just reach out. You can book time to talk to Katie here  https://letmetalktokatie.as.me/  or respond to this email with your questions. 

I will have a Covid update this week, but also please use the link below to check our website which we've been updating with new info as we come across it. 

  As always, thank you. Stay well.   

-Katie and the REVATX Team