As of July 31, 2015, based upon the signing of a new tax law, due dates and extended due dates of certain tax returns will be changing. Only Form 1120S and Form 1040 due dates will remain the same as in the past. Generally, returns with a year end after December 31, 2015 (2016 returns) will be affected. The table below summarizes the changes:
Tax return due date changes –
| Before Law Change | After Law Changes | |||||
| Form | Return Type | Original Due Date | Extended Due Date | Original Due Date | Extended Due Date | |
| 1120 | Corporation | March 15 | September 15 | April 15 | September 15 | |
| 1120S | S Corporation | March 15 | September 15 | March 15 | September 15 | |
| 1065 | Partnership | April 15 | September 15 | March 15 | September 15 | |
| 1040 | Individual | April 15 | October 15 | April 15 | October 15 | |
| 1041 | Fiduciary | April 15 | September 15 | April 15 | September 30 | |
| 990 | NonProfit | May 15 | August 15 & November 15 | May 15 | November 15 | |
| FinCen 114 | Foreign Account Reporting | June 30 | April 15 | October 15 | ||
| 5500 | Benefit Plan | July 31 | September 15 | July 31 | November 15 | |
The information above is a very brief summary of the changes established in the Stop-Gap Highway Bill. We are anticipating future changes in estimated tax payment dates and state compliance with the above-mentioned due date changes. For more information regarding other law changes and clarifications, please call the tax department at Chortek LLP, 262-522-8227. We are always happy to be of assistance.
