Return Due Dates Change

The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 changes the due dates for partnership and corporate income tax returns as well as for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), among other items.

For taxable years beginning after Dec. 31, 2015, the Act changed certain return due dates. These changes won’t impact payments made during calendar year 2016, but do impact payments to be made in 2017 and beyond:

  • Partnership returns will be due on the 15th day of the third month following the close of the taxable year (March 15th for calendar-year partnerships).
  • C corporation returns will be due on the 15th day of the fourth month following the close of the taxable year (April 15th for calendar-year corporations). S corporation returns will continue to be due on the 15th day of the third month following the close of the taxable year.
  • C corporations with tax years ending on June 30th will continue to have a due date of September 15th until taxable years beginning after Dec. 31, 2025. For years beginning after 2025 (10 years from now), the due date for these returns will be extended to October 15th.
  • The due date for FinCEN Form 114 (FBAR) is accelerated from June 30th to April 15th, but taxpayers are now permitted a six-month extension to file the form.

In brief, beginning in the 2017 calendar year:

Partnership returns are due March 15th instead of April 15th (for calendar-year partnerships); or the 15th day of the 3rd month following the close of the partnership’s taxable year.
C corporation returns are due April 15th instead of March 15th (for calendar-year corporations); or the 15th day of the 4th month following close of the corporation’s taxable year (except for fiscal years ending June 30th).
FinCEN Form 114 (FBAR) is due April 15th instead of June 15th; taxpayers are allowed a 6-month extension.

States may not automatically conform to any of these due date changes, so separate legislation will be required to change the applicable state due dates for these returns. Additional changes are likely, as the Act directs the IRS to make regulatory changes to a number of other extension deadlines. More information may be found at: tax-return-due-dates-changed

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