As part of the short-term highway funding extension passed by the Senate in late July, tax return due dates for certain filers have changed for the 2017 filing season (2016 tax returns). The new law applies to returns for tax years beginning after December 31, 2015 with one exception: C-Corporations with fiscal years ending on June 30th have ten extra years to make the change.
The following is a list of major due date modifications:
The following is a list of major extension due date modifications:
S-Corporations (Form 1120S) are not noted above as the filing due date for S-Corporations was not modified and remains the 15th day after the close of the year (March 15th for calendar year taxpayers). There was also no change to S-Corporations’ extension period of six months.
The goal of the due date modifications is to create a more logical flow of information to help taxpayers and tax preparers in filing more timely and accurate returns.
For many taxpayers, the 2016 filing season (2015 tax returns) just ended, so with the new filing season just around the corner, now is the time to mark your calendars for these due date changes.
Article written by:
Molly Waite, CPA