The Highway and Transportation Funding Act of 2015 (the “Act”) contains several important tax provisions and set new due dates for partnership, C Corporation, trust, Report of Foreign Bank and Financial Accounts (FBAR), and some other IRS information returns.
| Due Dates Under Prior Law | ||||
| Original | Extended | |||
| Calendar Year | Fiscal Year | Calendar Year | Fiscal Year | |
| Form 1065 | April 15 | 3 months, 15 days | September 15 | 5 months |
| Form 1120S | March 15 | 2 months, 15 days | September 15 | 6 months |
| Form 1120 | March 15 | 2 months, 15 days | September 15 | 6 months |
| Form 1041 | April 15 | 3 months, 15 days | September 15 | 5 months |
| Form 1040 | April 15 | N/A | October 15 | N/A |
| FinCEN Report 114 | June 30 | N/A | None | N/A |
| Due Dates Under New Law | ||||
| Original | Extended | |||
| Calendar Year | Fiscal Year | Calendar Year | Fiscal Year | |
| Form 1065 | March 15 | 2 months, 15 days | September 15 | 6 months |
| Form 1120S | March 15 | 2 months, 15 days | September 15 | 6 months |
| Form 1120 | April 15 | 3 months, 15 days | September 151 | 5 months |
| Form 1041 | April 15 | 3 months, 15 days | September 30 | 5 months, 15 days |
| Form 1040 | April 152 | N/A | October 152 | N/A |
| FinCEN Report 114 | April 153 | N/A | October 153 | N/A |
1 Special rules that apply to C Corporations with a fiscal year end of June 30. Contact us for more information.
2 The Form 1040 return due date and extension period remain the same.
3 The new due date and six-month extension cause Form 114 due dates to coincide with Individual Form 1040.
2 The Form 1040 return due date and extension period remain the same.
3 The new due date and six-month extension cause Form 114 due dates to coincide with Individual Form 1040.
State Tax Returns
While some states have updated their laws to follow the new federal tax return due date and extension periods, such as states of Alabama, Georgia, and Maine; other states have either set their own due date, such as Florida, Iowa, and Oklahoma, or not changed the prior due dates. With the federal due date and extension period changes, there may be an impact on the states in which you file. We will continue to monitor this.
