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Reminder: Tax Filing Due Date Changes Effective for 2016 Tax Year

Susan Diehl

It seems that there is some confusion out there on the new deadlines for filing business income tax returns for the 2016 tax year! Changes were made under H.R. 3236, also known as the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 were signed into law on July 31, 2015. As a part of this Act, certain tax filing due dates and therefore the extension due dates were changed, beginning with the 2016 tax year.  

With March 15 and April 15 around the corner, this has been a hot topic, so we are listing the old and new due dates below as a refresher on the changes. Please take note of the new deadlines for partnerships and C Corporations! This will affect their contribution timing especially for 401(a) qualified plans, SEP plans and SIMPLE-IRA plans!


C Corp 
Pre-2016 Due Date: March 15
New Due Date: April 15
New Extension: Oct. 15

Partnership
Pre-2016 Due Date: April 15
New Due Date: March 15
New Extension: Sept. 15

Sole Proprietor
Pre-2016 Due Date: April 15
New Due Date: April 15
New Extension: Oct. 15

Qualified Joint Venture
Pre-2016 Due Date: April 15
New Due Date: April 15
New Extension: Oct. 15

S Corp
Pre-2016 Due Date: March 15
New Due Date: March 15
New Extension: Sept. 15

Susan D. Diehl, CPC, QPA, ERPA, is President of PenServ Plan Services, Inc. and Chair of the NTSA Communications Committee. 

Opinions expressed are those of the author, and do not necessarily reflect the views of NTSA or its members.