![]() By moving the Partnership tax return (Form 1065) due date up to March 15th, partners should have an easier time receiving their K-1 statements on time and avoid having to file an extension. Partners of partnerships must wait until they receive a K-1 statement from the Partnership before they file their tax return, and since the due date for both Partnership returns and Individual returns are both currently April 15th, this is often impossible. These changes are all positive and follow common sense - well done, IRS! The swapping of the Partnership and C-Corporation due dates will help more taxpayers be able to file on time without an extension, and the FBAR change means the due date now aligns with individual income tax returns. FBAR (Form 114) will be due April 15th rather June 30th, and they will now have a six-month extension available.S-Corporation returns and individual returns are unaffected.C-Corporation returns will be due April 15th rather than March 15th.Partnership returns will be due March 15th rather than April 15th.Included in an unrelated bill for highway funding (gotta love politics), congress has granted the IRS new tax return due dates effective for 2016 calendar-year tax returns. ![]()
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