Recently enacted legislation alters several long-held tax return deadlines, effective for tax years beginning after 2015 (generally 2016 returns due in 2017). Of note:
- Partnership information returns (IRS Forms 1065) will be due one month earlier. For example, calendar year partnerships, whose returns are now due on April 15, will have a March 15 deadline. A six-month extension, to September 15 for calendar year partnerships, will be available. This brings partnerships into line with S corporations and their Forms 1120S.
- C corporation returns (IRS Forms 1120), previously due for calendar year corporations on March 15, will be due on April 15. This extra month applies to all corporations other than those whose fiscal year ends on June 30 – their returns will still be due on September 15, at least until the 2027 filing season.
- As for extensions, calendar year corporations will only get five months – to September 15 (their current extension deadline) – for tax years beginning before 2026. Corporations with June 30 year ends will get seven-month extensions – to April 15 – until then. All other corporations, and all corporations in the case of tax years starting after 2025, may obtain a six-month extension.
- Trust and estate returns (IRS Forms 1041) will continue to be due on April 15, but returns on extension get an extra 15 days. They will now be due on September 30 instead of September 15.
- Tax-exempt organizations’ information returns (IRS Forms 990) will remain due on the 15th day of the fifth month after fiscal year end (e.g., May 15 for calendar year organizations). But instead of having to apply for two 90-day extensions, an automatic six-month extension will be available.
- Foreign Bank and Financial Accounts Reports (FinCEN Forms 114, frequently referred to as FBAR filings), currently due on June 30 each year, will be due with individual tax returns on April 15 (subject to a six-month extension, to October 15).
- Employee Forms W-2 and most service provider Forms 1099-MISC, currently due to the IRS and the Social Security Administration on February 28 (March 31 if filed electronically), will now be due to them on January 31 – the same time they are due to employees and service providers.
