Sunday’s= Personal Tax
You may have heard tell of individuals that do not have to file their personal income tax returns until June 15.
The people who are allowed to do that are business owners who have not incorporated their businesses and their spouses.
Many people consider themselves to be self-employed because they work in businesses where they are the shareholders. They are self-employed but not for the purposes of filing a personal income tax return. The definition does not work for them because they are not reporting self-employment income on their personal tax return.
The ability to file in June does not give these people the ability to pay in June. They are still charged interest for any taxes owing on May 1 of each year.
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