Tax Returns on the Horizon – Note the New Due Dates
As 2017 begins in full swing, it’s time to start thinking about filing tax returns. Amidst all the excitement, make sure you are on the right timeline! There have been quite a few changes to the federal due dates of several tax forms starting with this upcoming 2017 filing season (2016 Forms).
The “Surface Transportation and Veteran’s Health Care Choice Improvement Act of 2015” surprisingly includes tax provisions impacting the due dates of tax returns and other tax filings. Hopes are that these new deadlines will reduce the need for as many individual extended returns as the much-needed information from pass-thru partnership returns can be available a month earlier.
The following is a summary of the former and new due dates.These new laws will smoothen the flow of information between taxpayers (i.e. corporations and individuals). Many states are likely to follow the above federal due date changes, but may need to enact legislation. This may be a lot to digest, if you have any questions regarding the new due dates, we’re here – contact us!