S Corporation Due Dates
In my post from Monday regarding the new dates for corporations and partnerships income tax returns, I failed to mention that S corporations will now have the same due date as partnership returns or March 15 for a calendar year return. C corporations will be a month later (except for those pesky June 30 year-ends as we discussed previously). S corporations are currently due on March 15 (for a calendar year return) so there is no change to the due, but they will no longer match up with the C corporation due date.
Since S corporations and partnerships both produce Schedule k-1s that are needed to prepare individual income tax returns, Congress wants to make sure these get done first. However, many of these returns are complex and the amount of extensions for these returns will likely be higher than they are now.
Paul Neiffer, CPA
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
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