New York (646) 374-2TAX (2829) Chicago Area (847)-595-0TAX (0829) cajtax@solution4u.com

Hello Everyone,

I know it’s been almost three months since my last post. Busy season is finally over and I am back to a more civilized routine, instead of working the 18 hour+ days, seven days a week.  It was a rough busy season but I count my blessings because I expect next year to be even rougher, with the changing deadlines for the returns of my clientele who file business returns.

Deadlines for all business returns (partnerships, S-Corps, C-Corps) for tax years that begin anytime in 2016 will be as follows:

Partnership returns (Form 1065)

  • First deadline is March 15, 2017 (note change of deadline).
  • Extended deadline is September 15, 2017.

C-Corporation returns (Form 1120)

  • First deadline is April 17, 2017 for corporations on a calendar year (note change of deadline).
  • Extended deadline is September 18, 2017 (five month extension instead of usual six month extension).
  • For corporations on a fiscal year other than a calendar year, the first deadline is the 15th day of the fourth month following the end of the corporation’s fiscal year.

S-Corporation returns (Form 1120S)

  • First deadline is March 15, 2017 for corporations on a calendar year (note there is no change of deadline).
  • Extended deadline is September 15, 2017

For individual returns, next year’s deadline will be April 17, 2017 and October 16, 2017 for returns on extension.

I could go into how these changed deadlines will affect next year’s tax season, as they will impose added burdens on an already burdensome time, but I’d rather focus on the more relaxed time I’m enjoying with my family and spending time outside now that busy season has ended.  More posts to come… until next time, get out there and enjoy the warm pleasant spring weather!