New Tax Filing Deadlines
Aug 12, 2015
On July 31, President Obama signed into law H.R. 3236, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015. This bill affects various types of tax returns and their due dates. The purpose of these changes is to give the IRS an increased audit period from three to six years in many cases.
Starting after December 31, 2015 the law generally makes the schedule for filing tax returns:
Partnership tax returns are due March 15, NOTApril 15 as in the past. If your partnership isn’t on a December 31st year end, the return is due on the 15th day of the third month following the close of your tax year.
C corporation tax returns are due April 15, NOT March 15. For non-calendar years, it is due on the 15th day of the fourth month following the close of the tax year.
S corporation tax returns remain the same—they are still due March 15, or the third month following the close of the taxable year.
C corporations with tax years ending on June 30 will continue to have a due date of September 15 until 2025. For years beginning after 2025, the due date for these returns will be October 15. Therefore, the due date of their returns will continue to be two and a half months after the close of the year (September 15) until their 2026 tax years.
In addition, the law modifies the automatic extension of filing deadlines for C corporations for returns for tax years beginning after 2015 and before 2026 to provide:
- Calendar year C corporations with an automatic five-month extension
- C corporations with a June 30 fiscal year-end with an automatic seven-month extension
- Other fiscal year C corporations with an automatic six-month extension
Beginning with 2026 returns, the automatic extension period for all C corporations will be six months.
Additional modifications governing the due dates and extensions for returns for tax years beginning after 2015 have been made. Click here find out more.
By: Aubrey Forche, Staff Accountant
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