Fall 2014 Newsletter: Beware emails from the “IRS.” Update_Fall2014.pdf

Summer 2014 Newsletter: Prepare for the Medicare surtax in your 2014 planning. Update-Summer2014.pdf

Winter 2013 CLIENT UPDATE Newsletter: Heath-care reform law gets underway for individuals. Update-Winter2013.pdf.

Fall 2013 CLIENT UPDATE Newsletter: Do you have obsolete inventory? Update-Fall2013.pdf.

Spring 2013 CLIENT UPDATE Newsletter: Tax legislation effects: Update-Spring2013.pdf.

Winter 2012 CLIENT UPDATE Newsletter: Year-end checklist for taxes: Update-Winter2012.pdf.

Fall 2012 CLIENT UPDATE Newsletter: Supreme Court upholds 2010 health care law: Update-Fall2012.pdf.

Summer 2012 CLIENT UPDATE Newsletter: Diversify investments by focusing on taxes: Update-Summer2012.pdf.

Spring 2012 CLIENT UPDATE Newsletter: 12 ways to improve your financial health in 2012: Update-Spring2012.pdf.

Winter 2011 CLIENT UPDATE Newsletter: Tax rules can provide relief when disaster strikes.  Update-Winter2011.pdf.

Fall 2011 CLIENT UPDATE Newsletter: New bonus depreciation rules.  UpdateFall2011.pdf.

Spring 2011 CLIENT UPDATE Newsletter: New tax rules offer opportunities. Are you saving enough?UpdateSpr2011.pdf.

Winter 2010 CLIENT UPDATE Newsletter: Small Business Jobs Act restores familiar tax breaks. UpdateWinter10.pdf.

Fall 2010 CLIENT UPDATE Newsletter: New 2010 tax credit available to small businesses.  ClientUpdateFall10.pdf.

Summer 2010 CLIENT UPDATE: Health care reform includes current and future tax changes.  ClientUpdate.pdf.

November 2015

What are the revised filing deadlines and when do they take effect? 

  1. On July 31, 2015, President Obama signed into law P.L. 114-41, the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015.” It includes a number of important tax provisions, including revised due dates for partnership and C corporation returns and revised extended due dates for some returns. These due date revisions are effective for tax years beginning after Dec. 31, 2015, which means that these changes generally won't go into effect until 2016 returns have to be filed. 

  2. •Partnerships will have to file their returns by the 15th day of the third month after the end of the tax year. Thus, Partnerships using a calendar year will have to file by Mar. 15 of the following year. This accelerates the filing deadline for partnerships by one month. 

  3. •C corporations will have to file by the 15th day of the fourth month after the end of the tax year. Thus, C corporations using a calendar year will have to file by Apr. 15 of the following year. This defers the filing deadline for C corporations by one month.

  4. •Form 1065 (U.S. Return of Partnership Income) will have a maximum extension of six-months (currently, a 5-month extension applies). The extension deadline will end on Sept. 15th for calendar year taxpayers.  The net effect is that the extension due date is unchanged from the prior law.

  5. •Form 1041 (U.S. Income Tax Return for Estates and Trusts) will have a maximum extension of five and a half months (currently, a 5-month extension applies). Therefore, the extension deadline will end on Sept. 30th for calendar year taxpayers.

Question/Answer Archives: 2015

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