Return due dates, extended due date amendments | KPMG | GLOBAL

Regulations: Return due dates, extended due date amendments

Return due dates, extended due date amendments

The U.S. Treasury Department and IRS today released for publication in the Federal Register final and temporary regulations (T.D. 9821), and by cross-reference, proposed regulations (REG-128483-15) that update existing provisions to reflect the due dates and extensions of time to file certain tax returns and information returns.

1000

Related content

The temporary regulations [PDF 239 KB] and proposed regulations [PDF 245 KB] update existing rules to reflect statutory requirements of legislation enacted in 2015 that revised the due date for filing income tax returns of C corporations and partnerships.

 

The regulations provide:

  • Income tax returns of C corporations—except for a C corporation that has a tax year that ends on June 30—the last date for filing is the 15th day of the fourth month following the close of the tax year
  • A seven-month automatic extension of time to file the income tax return of any C corporation with a tax year that ends on June 30 and before January 1, 2026 (a six-month automatic extension of time to file a return applies for all other corporations)
  • A rule for the extension of time for the return for a short period that ends on any day in June, that treats the period as if it ended on June 30
  • Income tax returns of partnerships due by the 15th day of the third month following the close of the tax year (March 15 for calendar year partnerships)
  • A six-month automatic extension to file Form 1065 by partnerships
  • An extension of time for estates and trusts to file Form 1041 of five and one-half months (September 30 for calendar year filers)
  • A six-month automatic extension of time to file certain returns (Form 990 series) by exempt organizations

The preamble to the regulations explains what items are not addressed, such as the time for filing the FBAR (FinCEN Report 114, Report of Foreign Bank and Financial Accounts).

© 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Request for proposal

 

Submit