A Look at the Impact of New Federal Filing Deadlines

02/06/2024|pwsbuilder|

In an effort to minimize taxpayers’ timing difficulties with filing dates for several common types of returns and reporting forms, Congress included provisions in the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, P.L. 114-41, revising original and extended due dates for tax years starting after Dec. 31, 2015 (e.g., 2016 returns prepared during 2017).

Form 1065, U.S. Return of Partnership Income (calendar year end)

  • Original due date – March 15
  • Extended due date – Sept. 15

Form 1041, U.S. Income Tax Return for Estates and Trusts (calendar year end)

  • Original due date – April 15
  • Extended due date – Nov. 15

Regarding Forms 1120 filed for corporations using June 30 as their tax year, corresponding changes are made for taxpayers that use a fiscal year as their tax year. Thus, partnerships and S corporations with a noncalendar fiscal year have a return date of the 15th day of the third month following the close of the fiscal year. C Corporations with a noncalendar fiscal year ending on any day other than June 30 have a due date of the 15th day of the fourth month following the close the fiscal year.

Form 1120, U.S. Corporation Income Tax Return (calendar year end)

  • Original due date – April 15
  • Extended due date – Tax years beginning before Jan. 1, 2026: Sept 15; Tax years beginning after Dec. 31, 2025: Oct. 15

Form 1120 (June 30 year end)

  • Original due date – Tax years beginning before Jan. 1, 2026: Sept. 15; Tax years beginning after Dec. 31, 2025: Oct. 15
  • Extended due date – Tax years beginning before Jan. 1, 2026: April 15; Tax years beginning after Dec. 31, 2025: April 15

Form 1120S, U.S. Income Tax Return for an S Corporation (calendar year end)

  • Original due date – March 15 (unchanged)
  • Extended due date – Sept. 15 (unchanged)

In addition, other important due date modifications for tax years beginning after Dec. 31, 2015, include:

1. FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), will be due on April 15 and may be extended until Oct. 15.

2. Information returns (e.g., Forms W-2 and 1099) must continue to be furnished to recipients by Jan. 31 and filed with the IRS and Social Security Administration (where required) by the last day of February for paper forms and March 31 if filed electronically.

Richard Camp, CPA, PA blogs and all other multimedia content is provided for informational and educational purposes only and should not be construed as financial tax, accounting, legal, consulting or any other type of advice regarding any specific facts and circumstances, nor should they be construed as advertisements for financial services.  Because accounting standards, tax law, and technologies are constantly changing, content in this blog could contain outdated information.

IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this website (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this website (or in any attachment).

Richard Camp, CPA, PA blogs and all other multimedia content is provided for informational and educational purposes only and should not be construed as financial tax, accounting, legal, consulting or any other type of advice regarding any specific facts and circumstances, nor should they be construed as advertisements for financial services.  Because accounting standards, tax law, and technologies are constantly changing, content in this blog could contain outdated information.

IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this website (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this website (or in any attachment).

Richard Camp, CPA, PA blogs and all other multimedia content is provided for informational and educational purposes only and should not be construed as financial tax, accounting, legal, consulting or any other type of advice regarding any specific facts and circumstances, nor should they be construed as advertisements for financial services.  Because accounting standards, tax law, and technologies are constantly changing, content in this blog could contain outdated information.

IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this website (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this website (or in any attachment).