New Corporate & Partnership Filing Deadlines: Mark Your Calendars

The IRS released new tax deadlines for Corporations and Partnerships beginning with 2016 tax returns that will be filed in 2017 as follows:

Partnerships (calendar year) deadline

• Partnership tax returns will now be due on March 15th each year. You will have a six month extension period until September 15. You will need to have your return prepared a month earlier than in the past, so please be aware.

Partnerships (fiscal-year) deadline

• The return deadline will be on the 15th day of the third month after the fiscal-year end date. You will have a six month extension period.

C Corporations (calendar year) deadline

• C corporation tax returns will now be due on April 15th each year. You will have an extra month to have your tax return prepared.

C Corporations (fiscal-year)

• The return deadline will be on the 15th day of the fourth month after the fiscal-year end date. You will have a six month extension period.

C Corporations (June 30th year end – special rules)

• June 30th year end returns will still have a deadline of September 15th and have a seven month extension period until April 15th. However, beginning 2026 the initial deadline will be moved one month to October 15th with an extension period of six months.

These new deadlines are intended to provide a more logical flow of tax information. It will ensure that timely filed Partnership and S Corporations, which are K-1 providers, file their tax returns a month in advance so that individuals and C Corporations will receive their K-1s in order to have their tax returns prepared.

If you have any questions about how these new tax deadlines might affect you or your business, call Burkett Burkett & Burkett Certified Public Accountants, P.A. for more information.