New Tax and FBAR Filing Deadlines for 2016 Tax Year

Legislation enacted in July 2015 has revised certain filing due dates and available extensions for tax years beginning on or after January 1, 2016.  For partnerships and S corporations, the new tax return filing deadline will be March 15 (or the 15th day of the third month after the end of the tax year), with a maximum extension of 6 months.  For C corporations, the new tax return filing deadline will be April 15 (or the 15th day of the fourth month after the end of the tax year), with a maximum extension of 5 1/2 months.  (For C corporations with fiscal years ending June 30, however, the new deadline will not apply until 2026.)  In addition, for tax years beginning on or after January 1, 2016, the Report of Foreign Bank and Financial Accounts (FinCEN 114, also known as the FBAR) will be due April 15 (instead of June 30), with a new 6-month extension available.  The extensions available for various other returns also have been revised.  These changes to filing due dates and extensions are part of the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, P.L. 114-41.

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