IRS Filing Deadline Changes for Partnerships, Corporations and Foreign Bank Account Reports

As the year comes to an end, it is important to keep in mind some upcoming changes for the 2016 tax year. One major change is the due date for several common federal tax returns. The following table summarizes the revised IRS filing deadlines for the most common federal tax returns.

Federal Return Due Dates Under Prior Law: Original and Extended Due Dates Due Dates Under New Law: Original and Extended Due Dates
Partnership – Form 1065 April 15th
September 15th
March 15th
September 15th
C Corporation – Form 1120 March 15th
September 15th
April 15th
September 15th
Report of Foreign Bank and Financial Accounts – FinCen Report 114 June 30th April 15th
October 15th
Form W-2 and Form 1099-MISC February 28th – if paper filed
March 31st – if filed electronically
January 31st

The due dates related to individual tax returns, like Form 1040, and estimated tax payments will remain the same.

Additionally, legislation has been passed by several states to conform their tax return filing deadlines with the new federal deadlines.

You may need to take a closer look at your calendar to make sure your work processes align with the new due dates. Also, if you have any investors that are partnerships, they might require earlier access to their Schedule K-ls or estimated tax information to meet these new deadlines.

If you have any questions, please feel free to reach out to your Conifer Financial Services contact.