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Post Date:  8/24/2015
Last Updated:  8/24/2015

Summary
Cross References
- Public Law 114-41 (H.R. 3236)

Signed into law on July 31, 2015, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 provides for a temporary extension of funding for specified federal-aid highway programs through October 29, 2015. To help pay for the continued funding, the law contains a number of tax compliance requirements. The following chart lists all of the new tax provisions, as well as a summary of the rules prior to the tax law change.

Tax Provision New Law Prior Law
Partnership Return Filing Deadline Effective 2016: For tax years beginning after December 31, 2015, the due date for filing Form 1065 and providing partners with a Schedule K-1 is March 15 (15th day of 3rd month after the close of the tax year for fiscal year partnerships). Tax year 2015: For tax years beginning before 2016, the due date for filing Form 1065 and providing partners with a Schedule K-1 is April 15 (15th day of 4th month after the close of the tax year for fiscal year partnerships).
Partnership Return Filing Extension Effective 2016: For tax years beginning after December 31, 2015, a partnership will be allowed an automatic 6-month filing extension (September 15 for calendar year partnerships). Tax year 2015: For tax years beginning before 2016, a partnership is allowed an automatic 5-month filing extension (September 15 for calendar year partnerships).
C Corporation Return Filing Deadline Effective 2016: For tax years beginning after December 31, 2015, the due date for filing Form 1120 is April 15 (15th day of 4th month after the close of the tax year for fiscal year corporations).

Exception: For fiscal year corporations with a tax year ending on June 30, the 15th day of the 3rd month deadline (September 15) will continue to apply until tax years beginning after December 31, 2025 when the due date changes to the 15th day of the 4th month (October 15).

Note: S corporations will continue to have a due date on the 15th day of the 3rd month (March 15th for calendar year S corporations).
Tax year 2015: For tax years beginning before 2016, the due date for filing Form 1120 is March 15 (15th day of 3rd month for fiscal year corporations).

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