President Obama Signs Stopgap Highway Bill Changing Federal Due Dates

September 18, 2015

On July 31, 2015, President Barack Obama signed the Stopgap Highway Bill.  Under the bill, the due dates of several different types of tax returns were changed.  Under this new legislation, the due date of Form 1065, U.S. Return of Partnership Income and Schedule K-1s will now be due March 15.    The bill also changes the due date for your regular C corporations from March 15 to April 15.  However, for June 30 year-end C corporation filers, the filing deadline will remain September 15 until tax years beginning after December 31, 2025, at which time it will then become October 15.   These changes will be applicable to returns for tax years beginning after December 31, 2015.

State Impact:

  1. State filing timelines generally fall into one of two categories:
    Those with a filing deadline directly tied to the federal deadline (e.g., a return is due 30 days after the federal return is due), or
  2. Those with a filing deadline independent of the federal deadline, although the language may mirror that of the Internal Revenue Code (e.g., a return is due 2-1/2 months after year end).

At the moment, few states have announced how they are going to adopt this new change.  Absent any additional guidance, those states that fall into the first category above automatically adopt the federal deadline changes.  For states that fall into the second category, it remains to be seen how the state will adopt the changes.  For more information on the StopGap bill click here.

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