March 6, 2017
In an effort to get Form K-1s to individual taxpayers more quickly, the IRS changed the due date for calendar-year Form 1065 (filed by most Partnerships and LLCs) to March 15th instead of April 15th. The due date for Form 1120S filed by S Corporations is unchanged from prior years and remains March 15th. The change to Form 1065 was made so that all pass-through entities are due a month before the individual tax return due date of April 15.The IRS has also changed the due dates for calendar-year Form 1120 filed by C Corporations. Historically these returns were due March 15th but are now due on April 15th. Since there are no pass-through reports related to C Corporations there was no need for them to be filed in advance of individual tax returns.
Partnership/LLC (1065) 3/15/2017
S Corporations (1120S) 3/15/2017
Corporations (1120) 4/18/2017 (due to Federal holidays)
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January 13, 2017
A reminder that form W-2 and Form 1099-MISC filings for tax year 2016 are due January 31, 2017. Take note as this is a change from prior years when they were due by February 28th. The new deadline is for all W-2s and 1099s, both electronic and paper filed. The employee copies of both of those forms are also due by January 31st which is unchanged from prior years.
As a reminder, 1099-MISC are required to be issued to vendors providing business services to your business when the payments for the year are at least $600. Payments for tangible goods or products do not get reported on a 1099. You also do not need to issue a 1099-MISC to vendors that are S or C Corporations in most cases (one notable exception is that 1099s are required for all payments to attorneys for legal services regardless of entity type).