The June 30 C Corporation Due Date

Yesterday we reported on the changes to due dates for partnerships and C corporations. One of the oddities was that June 30 fiscal year C corporations would keep their current due date of September 15 until 2025 while other entities got an extra month.

I think I have now figured out this oddity. The fiscal year for the U.S. government is September 30.  All bills are scored over a 10 year time period and by having the June 30 year-end remain as is for ten years, Congress was able to squeeze in a bit more revenue over the ten-year period since final tax payments would be due before the the U.S. Government year-end not after.

Any other year-end change would not affect the 10 year scoring of the bill. I welcome any member of the Senate or House to tell me I am wrong.  I do not want to be that CPA over the next ten years who mistakenly figures the June 30 C Corporation is due on October 15 when it really due September 15.   Since every other month end will have an extra month this will be easy to miss.

Paul Neiffer, CPA