Tax Procedure Book Errata - Corporation Income Tax Return Filing Date (1/2/17)

Book Outline Section	Nature of Update	Location for current editions
Ch. 5 ¶ 4.A., Time for Filing Returns - General	State C Corporation filing date as a result of 2015.  For most C Corporations, the statute changes the return due date for most C Corporations from the 15th day of the third month to the 15th day of the fourth month (from March 15 to April 15 in the case of C Corporation calendar year taxpayers).  The first two sentences will be replaced with the text below.	Student Ed. P. 108-109 Practitioner Ed. p. 152

Insert as indicated

               Individual and most C Corporation income tax returns are due on the 15th day of the fourth month after the close of the tax year (i.e., April 15 for calendar year returns; virtually all individual returns are calendar year returns, but for taxpayers on a fiscal year, the return is due on the 15th day of the fourth month after the close of the fiscal year). 530a  This filing date rule does not apply until 2025 to C Corporation taxpayers with a fiscal year of June 30. 530b  Partnership and S Corporation returns are due on the 15th day of the third month after the end of the tax year (March 15 for calendar year returns).   530c   n530a § 6072(a).  The filing date of the 15th day of the fourth month (April 15 for calendar year reporters) for C Corporations is effective for 2016 returns filed in 2017.  Prior to that effective date, the due date for C Corporation returns was the 15th day of the third month (March 15 in the case of calendar year reporters).
   n530b Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, (P.L. 114-41) § 2006(a)(3).   I have no idea as to the reason for this exception to the general rule due date of the 15th day of the fourth month.  The net effect of the new rules is that for those Corporate taxpayers wanting to file by the pre-change date of 15th day of third month can still do so and can still file by the former extension date of 15th day of the ninth month because the extension date for the new rule will be October 15th.  So, I am not sure what was achieved by excepting fiscal year Juen 30 filers in the real world.
   n530c § 6072(b).

I will make consistent changes to the discussion of extension dates in the next section in both editions.  Essentially, returns now due on the 15th day of the fourth month (April 15 for calendar year individuals and most C Corporations) can be extended for  six months to the 15th day of the tenth month.