Final answer:
The unextended due date of the tax return for a calendar-year corporation is March 15, which is different from the individual tax return deadline of April 15. Corporations have distinct filing requirements and may receive a tax refund if they've overpaid throughout the tax year.
Step-by-step explanation:
The unextended due date of the tax return for a calendar-year corporation is March 15. This is distinct from the due date for individual tax returns, which is typically April 15. The distinction is important because corporations follow a different set of rules and deadlines for tax filing than individuals. A calendar-year corporation is one whose tax year aligns with the calendar year, meaning it starts on January 1 and ends on December 31. If a corporation cannot file by March 15, it can request an extension to push the deadline back, but March 15 is the standard unextended filing deadline.
When individuals overpay taxes throughout the year, they may be eligible for a tax refund. This represents the difference between the amount of tax that was paid and the amount that is owed. While individuals look forward to possibly receiving a refund after filing their taxes by April 15, corporations must adhere to their own deadlines to ensure compliance with tax laws.