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