Wednesday, August 12, 2015

New Highway Act Changes Filing Deadlines for Certain Business Tax Returns

President Obama signed into law the “Surface Transportation and Veterans Health Care Choice Improvement Act at the end of July. The Act implements due date changes for business tax returns beginning with 2016 tax returns.

Currently, partnership tax returns are due April 15 (or 3 ½ months after year-end). Under the new rules partnerships will be required to file by March 15 (or 2 ½ months after the close of its tax year). This is the same due date already in place for S Corporations. A six-month extension will be available. The new deadline will apply to returns to taxable years
from It's Taxing - Bond Beebe

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