New Filing Dates for Some Tax Returns in 2017

As we get ready for the 2017 filing season, there is hope that the year will be better.  One reason is because the 2017 filing season will involve new due dates, a result of years of advocacy by the accounting profession.
Partnerships – Form 1065
Business entities such as partnerships or multi-member LLC’s that file Form 1065 must now file by March 15 (the previous deadline was April 15).  An extension can be filed for up to six months, which means your return must be filed no later than September 15, 2017.   For fiscal year entities, the return is due on the 15th day of the third month following the end of the organization’s fiscal year.
C-Corps – Form 1120
The new due date for C-corporations with calendar year end is April 15 (previously March 15) with a six month extension due October 15, (previously September 15).  For fiscal year end C Corporations, the new  date is the 15th day of the fourth month following the end of the organization’s fiscal year and the extension due date is 15th day of the 10th month after the fiscal year end.
There are special rules for C Corps with fiscal years ending on June 30, the new date will go into effect for returns with taxable years beginning after December 31, 2025 (2027 filing season).  The return will be due on October 15 and the extension on April 15.
W-2 and 1099 filing dates change
W-2 and 1099 filings will change from March 31 to January 31 in 2017. For freelancers, this means that if you are employed and usually receive a W-2, you should get it earlier and if you issue and/or receive 1099’s you’ll have less time to a) get them in the mail and b) make any necessary changes, since the due date for getting these forms to the recipient remains the same.
Exempt Organizations – Form 990
New extension will be a single automatic 6-month extension eliminating the need to process the current first 90-day extension.
Changes to Foreign Bank and Financial Accounts deadline and extension
The Report of Foreign Bank and Financial Accounts (FBAR) is now due April 15 (previously it was due June 30). In a bit of good news, there is a new six month extension for FBAR filings.
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