Question

Calendar-year corporations that request an extension for filing their 2018 tax returns will have a tax return due date of October 15.

a) True
b) False

Answer 1

The statement is true. Calendar-year corporations that request an extension for filing their 2018 tax returns will have a tax return due date of October 15.

Step-by-step explanation:

The statement is true. Calendar-year corporations that request an extension for filing their 2018 tax returns will have a tax return due date of October 15.

Calendar-year corporations are entities that follow the standard calendar year for reporting their financial activities. If they need additional time to file their tax returns, they can request an extension. By doing so, their new tax return due date will be October 15, instead of the original deadline, which is usually April 15.

This extension allows corporations to gather all the necessary financial information to accurately report their taxes, giving them more time to review documents, calculate deductions, and ensure compliance with tax regulations.