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New Tax Due Dates For The Upcoming Season.

There are several changes in due dates for federal tax returns, which will be effective for the 2017 filing season or the 2016 tax year. These modifications allow flow-through entities like Partnerships, LLCs and S Corporations to provide Schedule K-1s in March, one month before individual tax return due date. At the same time, C Corporations, which do not affect individual tax returns, will be filed one month later. Here is a summary of tax return filing deadlines:

Partnerships and LLCs (Form 1065)
The due date is moved up to March 15 or the 15th day or the third month after year-end with a six-month extension available
S corporation (Form 1120S)
The due date remains March 15 or the 15th day or the third month after year-end with a six-month extension available
C Corporations (Form 1120)
The due date is delayed till April 15 or the 15th day or the fourth month after year-end with a five-month extension available
Foreign bank and financial accounts report; FinCEN Form 114
For individual taxpayers forms are now due April 15 with a six-month extension available
Individual Taxpayers (Form 1040)
The due date remains April 15 or the 15th day or the fourth month after year-end with a six-month extension available

Please click here for other filing due dates.

Source: www.AICPA.org
Additional resources: Original And Extended Tax Return Due Dates

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Kim & Associates, PA
(410) 546-0552
info@kgcpa.com

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