The Surface Transportation and Veterans Health Care Choice Improvement Act generally provides both S and C corporations an automatic six-month extension to file their returns effective for taxable years beginning after Dec. 31, 2015. Calendar-year C corporations will be allowed only an automatic five-month extension for calendar years through 2025, however, and C corporations with a June 30 year-end are entitled to an automatic seven-month extension through 2025, making the extended due dates Sept. 15 and April 15, respectively. An automatic extension means that the IRS will automatically grant the taxpayer’s extension request without a showing of reasonable cause. The appropriate form to request an extension must still be filed.
The Act also directs the IRS to modify Treasury regulations to allow extended due dates for other tax and information returns for taxable years beginning after Dec. 31, 2015, including, among other returns:
- A six-month extension to Sept. 15 for calendar-year partnerships.
- A five-and-a-half-month extension to Sept. 30 for calendar-year trusts filing Form 1041.
- A six-month extension to Oct. 15 to file the FBAR.