Revised Due Dates for 2016 Returns

Legislation passed in July of 2015 modifies the due dates for many tax returns beginning with the 2017 filing season (2016 returns). The act sets new due dates for the returns listed below as well several others:

  • Partnerships – 2016 calendar year partnership returns will be due March 15th (formerly April 15th). Fiscal year partnerships will be due the 15th day of the third month following the close of the fiscal year.
  • C Corporations – The new due date is the 15th day of the fourth month following the close of the corporation’s year. 2016 calendar year-end C corporation returns are due April 15th – one month later than the 2015 filing deadline. For C corporations with fiscal years ending on June 30th, the new due dates will not apply until tax years beginning after 2025.
  • FinCen Form 114 (Report of Foreign Bank and Financial Accts) – The due date for filing these forms is now April 15th (formerly June 15). A six-month extension is now available.
  • W-2s – January 31st is the new deadline to file online or submit paper W-2’s to the Social Security Administration. Employers are also required to distribute W-2’s to employees by January 31st.
  • 1099-MISC – The new act requires these forms to be filed on or before January 31st when reporting nonemployee compensation payments in box 7. Otherwise the filing deadlines are February 28th for paper filers and March 31st for electronic filers.
  • Forms 1095-B and 1095-C – Transition relief was provided for 2015. For 2016 filings forms are due to employees by January 31st. Paper filers must submit these forms to the IRS by February 28th while the deadline for electronic filers is March 31st.

The S Corporation deadlines remain unchanged. Because of these changes, we urge you confirm your filing deadlines with your accountant and make adjustments, as necessary, to meet these deadlines.

For more information, please view the AICPA Due Dates Summary Chart.