Tax Filing Deadline Changes for C-Corps

In the summer of 2015, Congress passed – and President Obama subsequently signed – P.L. 114-41 (Surface Transportation and Veterans Health Care Choice Improvement Act of 2015), which significantly affects the due dates of federal income tax returns, beginning with tax year 2016. Aimed primarily at modifying the due dates of partnership returns, C-Corporations realized a significant benefit from the passing of the law.

For a number of years,  C-Corporation returns were due the 15^th day of the third month following the end of the tax year (March 15^th for calendar year taxpayers) and were allowed a six-month extension (extended due date of September 15^th for calendar year taxpayers). However, with the passage of P.L. 114-41, both the original filing date and extended due date have been extended by one month for most C-Corporations, meaning the original filing deadline for most C-Corporations becomes April 15^th with an extended due date of October 15^th. The first quarter estimated payment due date will also move forward one month to coincide with the revised due date of the tax return (April 15^th for calendar year end C-Corporations). The remaining estimated tax payment dates remain unchanged (second quarter through fourth quarter payments due June 15^th, September 15^th, and December 15^th respectively).

C-Corporation (calendar year taxpayers) Federal Income Tax Return Due Dates*

Original filing date:                                         April 15

Extended filing date:                                      October 15

1st quarter estimated payment due:            April 15

2nd quarter estimated payment due:          June 15

3rd quarter estimated payment due:          September 15

4th quarter estimated payment due:          December 15

 * beginning with tax year 2016

 The only caveat to the passage of P.L 114-14 is that, for the time being, C-Corporations with a June 30 fiscal year end must still follow the existing filing deadlines. The due date for June 30 fiscal year end C-Corporations will become the 15^th day of the fourth month following the close of the tax year beginning with fiscal year end 2026. This means the original due date for June 30 fiscal year end C-Corporations remains September 15^th with an extended due date of March 15^th until that time.

The passage of the law has no effect on the due dates of S-Corporation tax returns.

Please contact Ryan Kilpatrick directly if you have any questions on how the change in due dates impact the filing of your tax return.