Due Dates for Business Returns-Tax Years Beginning After Dec 31, 2015
Revised due dates for partnership and C corporation returns: Domestic corporations (including S corporations) currently must file their returns by the 15th day of the third month after the end of their tax year. Thus, corporations using the December 31st year-end must file their returns by March 15th of the following year. The partnership return using a December 31st year-end will be due April 15th following the year-end.
Under the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, effective for returns for tax years beginning after Dec. 31, 2015 (i.e., for 2016 tax year returns filed in 2017):
• Partnerships and S corporations will have to file their returns by March 15th (vs. April 15th previously for partnerships) after their Dec 31st year-end.
• C corporations will have to file by the 15th day of the fourth month after the end of the tax year. However, under a special rule for C corporations with fiscal years ending on June 30th, the rule change won't apply until tax years beginning after Dec. 31, 2025 (still keep 75 days after year-end as their due date).
Revised automatic extension rules for corporations: effective for returns for tax years beginning after Dec. 31, 2015, the three-month automatic extension of time for corporate returns in Code Sec. 6081(b) is changed to an automatic six-month extension (this change conforms the statutory rule with the six-month automatic extension for corporate returns in Reg. § 1.6081-3(a)).
However, for any return for a tax year of a C corporation which ends on Dec. 31st and which begins before Jan. 1, 2026, the automatic extension period is five months (not six months). And, for any return for a tax year of a C corporation which ends on June 30th and begins before Jan. 1, 2026, the automatic extension period is seven months (not six months).
The above information is of a general nature only and should not be relied upon for specific situations. Click here for additional corporate accounting services information.
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