Beginning on January 1, 2017 the IRS has changed the due dates of 2016 tax returns for certain businesses in order to help spread out the burden of tax preparation on CPAs. The new dates are intended to help individuals who receive income from pass-through entities, such as partnerships and S-corporations, by making those documents available to taxpayers earlier.
C-Corporations:
The new due date for C Corporation tax returns is the 15th day of the fourth month following the close of the year.
| Calendar-Year C Corporation | Fiscal-Year C Corporation |
| Year end: December 31, 2016 | Year End: May 31, 2017 |
| NEW Due Date: April 15, 2017 | NEW Due Date: September 15, 2017 |
| Extension: 5 month extension | Extension: 6 month extension |
Partnerships:
The new due date for Partnership returns is the 15th day of the third month following the close of the year.
| Calendar-Year Partnership | Fiscal-Year Partnership |
| Year end: December 31, 2016 | Year End: May 31, 2017 |
| NEW Due Date: March 15, 2017 | NEW Due Date: August 15, 2017 |
| Extension:6 month extension | Extension: 6 month extension |
FinCEN Form 114: Reporting of Foreign Bank and Financial Accounts (FBAR)
The due date for this form has changed from June 30th to April 15th but, you can still request a 6 month extension.
Other Changes Enacted by this Bill:
- Exempt organizations (form 990 and 990-PF) will only have one 6 month extension eliminating the first 3 month extension.
- Information Return (W-2s and 1099s) – Now due to the IRS on January 31st instead of February 28th.
Below is an updated list of the tax return due dates beginning for 2016 tax returns (2017 filing season)
| Return Type | OLD due date | NEW Due Date |
| 1065 – Partnership | April 15th
Extended: September 15th |
March 15th
Extended: September 15th |
| 1120S – S Corporation
NO CHANGE |
March 15th
Extended: September 15th |
March 15th
Extended: September 15th |
| 1041 – Trust and Estate | April 15th
Extended: September 15th |
April 15th
Extended: September 30th |
| 1120 – C Corporation | March 15th
Extended: September 15th |
April 15th
Extended: September 15th |
| 1040 – Individual
NO CHANGE |
April 15th
Extended: October 15th |
April 15th
Extended: October 15th |
| 990/990-PF – Exempt Organizations | May 15th
1st Extension: August 15th 2nd Extension: November 15th |
May 15th
Extended: November 15th |
| Form 114 – FinCEN | June 30th | April 15th
Extended: October 15th |
| Information Returns: (W-2s and 1099s) | To IRS: February 28th
Electronic: March 31st |
W-2 and 1099-MISC due Jan 31st
All other 1099s due Feb 28th(or March 31st if filed electronically) |
*Dates in bold have been changed
Contact your Lindsay & Brownell professional to discuss how this affects you.