Because it isn’t what you think it is…
In Washington DC, there is a holiday called Emancipation Day. This year, it falls on Friday, April 15. Due to this, the basic federal income tax deadline has been changed to Monday, April 18. Most states will follow suit, just because it is easier to have the same deadline. This is a one-time change.
Beginning next year, for the 2016 federal income tax filings happening in 2017, the due dates for some forms will change. This is a permanent change! Here’s the list:
Form 1065 due March 15, 2017 (used to be April)
Form 1120 due April 15, 2017 (used to be March)
Form 1120S due March 15, 2017 same
Foreign Bank Accounts!
And for those of you filing the exciting FBar information return, (click here for more details), beginning in 2017, the deadline will be moved back a whole two and a half months. This might not seem fair, but listen up! You now have the opportunity for a 6 month extension. Formerly, there was no option for extension. None. Nada. You either did it on time, or you didn’t.
FinCen 114 due April 15, 2017 (used to be June 30)
How were you supposed to know all this? I haven’t the foggiest. After all, it was enacted as part of a stop-gap highway spending bill the end of July. (But I’m doing my part to help keep you compliant.)
So crunch those numbers! Or file that extension! Quick!