New Regulations Issued by IRS Change Return Due Dates and Extensions

New Regulations Issued by IRS Change Return Due Dates and Extensions

Last Week, July 19th the IRS issued a package of regulations which change due dates and extensions of time to file for various tax returns and information. The regulations reflect statutory changes made by the Veterans Health Care Choice Improvement Act of 2015, P.L. 114-41, and the Protecting Americans From Tax Hikes Act of 2015, P.L. 114-11.

These newly issued regulations are effective July 20th, and will affect taxpayers who file the following forms:

  • Form 8804, Annual Return for Partnership Withholding Tax (Section 1446) (automatic six-month extension);
  • Form 8870, Information Return for Transfers Associated With Certain Personal Benefit Contracts (automatic six-month extension).
  • Form 1041, U.S. Income Tax Return for Estates and Trusts (automatic 5½-month extension);
  • Form 1041-A, U.S. Information Return Trust Accumulation of Charitable Amounts (automatic six-month extension);
  • Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code (automatic six-month extension);
  • Form 5227, Split-Interest Trust Information Return (automatic six-month extension);
  • Form W-2, Wage and Tax Statement(and other forms in the W-2 series except Form W-2G, Certain Gambling Winnings) (due Jan. 31);
  • Form W-3, Transmittal of Wage and Tax Statements (due Jan. 31);
  • Form 1099-MISC, Miscellaneous Income, reporting nonemployee compensation (due Jan. 31);
  • Form 990 (tax-exempt series) (allowed an automatic six-month extension);
  • Form 1120-POL, U.S. Tax Return for Certain Political Organizations (automatic six-month extension);
  • Form 6069, Return of Excise Tax on Excess Contributions to Black Lung Benefit Trust Under Section 4953 and Computation of Section 192 Deduction (automatic six-month extension);
  • Form 1065, U.S. Return of Partnership Income (due the 15th day of the third month following the close of the tax year, automatic six-month extension);
  • Form 1120 (corporate tax return series) (due the 15th day of the fourth month following the close of the tax year, automatic six-month extension, except for C corporations with a June 30 year end, which have a Sept. 15 due date until 2026, with an automatic seven-month extension);