New Due Dates for Certain Entity Federal Income Tax Returns

By Robin C. Gilden

The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (the “Act”) was signed into law by President Obama on July 31, 2015. Under the Act, the due dates for certain federal income tax returns were changed.

For tax years beginning after December 31, 2015, the due date for federal income tax returns for Subchapter S corporations and partnerships (including limited liability companies treated as partnerships for income tax purposes) with calendar year ends will be March 15th following the close of the calendar year, and the 15th day of the third month following the close of the fiscal year, for fiscal year partnerships and S corporations. The Act provides for a maximum extension of 6 months for filing such returns. Therefore, the extended due date for calendar year S corporations and partnerships (including limited liability companies treated as partnerships for income tax purposes) will be September 15th following the close of the calendar year. The previous due date for partnership federal income tax returns for calendar year partnerships was April 15th of the year following the close of the calendar year and the extended due date was October 15th.

Calendar year trusts continue to have a due date of April 15th to file their federal income tax returns. However, for taxable years beginning after December 31, 2015, under the Act, the extended due date for calendar year trusts will be September 30th, rather than September 15th of the year following the end of the of calendar year.

For taxable years ending after December 31, 2015, under the Act, the new due date for calendar year C corporation federal income tax returns will be April 15th, rather than the current due date of March 15th. For fiscal year end C corporations, for taxable years ending after December 31, 2015, the due date of the federal income tax return will be the 15th day of the fourth month following the end of the fiscal year. However, C corporations with a June 30th fiscal year end will have an April 15th due date until tax years beginning after December 31, 2025. C corporations will be allowed an automatic 6-month extension to file, except that calendar-year C corporations will receive a five-month extension until September 15th through 2025 and C corporations with a June 30th year end will receive a seven-month extension to September 15th until taxable years beginning after December 31, 2025.

California law will not automatically conform to these new due dates and a legislative change will be required to achieve conformity.

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