Tax return due date for Partnerships and C Corporations has been changed for this year. The Surface Transportation Act of 2015, also known as the Highway Act, has some important changes for Partnership and C Corporation tax returns. Effectively, the tax return due dates have been swapped for the two entities. Partnership tax returns were due on April 15 last year. This year, Partnership returns will be due March 15. For C Corporations, the tax return deadline has changed from March 15 to April 15. This assumes the entity is on a calendar year.
For Partnerships, this means that Partners will receive their Schedule K-1s in a timely manner. In years past, Partners would have to file for an extension for their individual Form 1040 tax returns because they didn’t have the Schedule K-1 in time. Partnerships can file for an extension, in which case the due date will be September 15. Calendar year C Corporations can file for a five month extension, making the due date remain September 15.
There are several other provisions in the Highway Act, but none pertaining to the tax return due date for Partnerships and C Corporations.