Look for a Change to Tax Filing Due Dates

Wednesday, September 16, 2015

Important information for Partnerships, C corporations, Form 5500 filers and some tax-exempt

A recently-passed and signed bill means tax filing dates will shift for taxable years beginning with 2016. Titled H.R. 3236 Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, but better known as the Highway Funding Bill, this new law alters filing deadlines for partnerships, C corporations, Form 5500 filers and some tax-exempt. You’ll need to note the new dates in 2017 when you file for the 2016 tax year.

In essence, the changes are intended to allow more time to gather and receive necessary filing information before filing deadlines. In fact, the American Institute of Certified Public Accountants favored the bill’s tax provisions. However, a few return type dates will not be affected by the change and Form 1065 was moved a month earlier. C Corporations, Employee Benefit Plans, Trust and Estate and Exempt Organizations earn extra time for preparation of either original returns, extended returns or both.

And in case you are wondering, individual tax return filing dates remain the same.