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Writer's pictureDaniel Gray CPA

Feeding Treasury's Coffers within its September year-end Drives New IRS Filing Due Dates


Entity and 3520 Foreign Trust filing due date changes taking effect for the 2016 taxable year.

For C Corporations the new due date is the 15th day of the fourth month following the close of the corporation’s year (versus the 15th day of the third month following the close of the corporation’s year).

For C corporations with fiscal years ending on June 30, the new due dates will not apply until tax years beginning after Dec. 31, 2025.

Corporations are permitted a six-month extension with two exceptions: calendar-year corporations are entitled to a five-month extension until 2026 and corporations with a June 30 year-end are entitled to a seven-month extension until 2026.

So, for now, the extended corporate returns have the same due date as in the past - Sept 15. It's just that now they are originally due one month later (which now can save a 5472 filer from the $10,000 penalty when filing between March 16 and April 15) and extended one month less. Why not still allow a six month extension even now, you ask? It's reported because Treasury closes its fiscal year Sept 30 and needs as much revenue in before that close - so the more brought in within September, the better.

However, in 2026 the extended calendar year corporate filer due date will become October 15.

For partnership returns the new due date is March 15 (for calendar-year partnerships) and the 15th day of the third month following the close of the fiscal year (for fiscal-year partnerships). Before, these returns were due one month later. A maximum extension of six months for Form 1065, U.S. Return of Partnership Income will be allowed.

The due date for Form 3520-A is now generally March 15th and the maximum 6 month extension will be September 15th. Form 3520 is due April 15th and the maximum extension allowed will be 6 months ending October 15th.

US citizens living abroad are eligible for an automatic FBAR extension to June 15; April 15 is the default due date.

Taxpayers reporting amounts in Box 7 on Form 1099-MISC (Non-Employee Compensation) must send forms to the payment recipient and the IRS by January 31, 2017; all other 1099s follow the usual IRS filing deadlines (February 28 if paper-filed; March 31 if filed electronically).

These due date changes may be found here: https://www.congress.gov/114/bills/hr3236/BILLS-114hr3236ih.pdf


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