The Surface Transportation and Veterans Health Care Choice Improvement Act also changed the filing date for certain income tax returns. Calendar-year partnerships will be required to file their tax returns (or request an extension) by March 15, and fiscal-year partnerships will be required to file their returns by the 15th day of the third month following the close of the fiscal year. Under prior law, these returns were due on the 15th day of the fourth month following the close of the taxable year (April 15 for calendar-year partnerships). Returns of calendar-year S corporations will continue to be due by March 15, and for fiscal-year S corporations by the 15th day of the third month following the end of the fiscal year.

Calendar-year C corporations will be required to file tax returns (or request an extension) by the 15th day of the fourth month following the close of the taxable year – or April 15. Under prior law, C corporation returns were due by the 15th day of the third month following the close of the taxable year (or March 15 for calendar-year C corporations). 

These changes are effective for taxable years beginning after Dec. 31, 2015.  There is an exception for C corporations with a taxable year ending on June 30, however.  The change does not go into effect for these C corporations until the taxable year beginning after Dec. 31, 2025 – until that time, returns for such corporations will continue to be due by Sept. 15.

These changed due dates are generally welcome news for taxpayers and tax return preparers. Currently, partnership returns are due on the same day as returns for individuals and C corporations. Many members of pass-through entities often do not have sufficient time to incorporate their Schedule K-1s received from pass-through entities into their own returns and must extend the due dates of their returns and make estimates of taxes owed based on incomplete information. The new due dates provide a more logical flow of information, as pass-through returns (at least for entities on a calendar year) are now all due one month before returns of individuals.