• View detailsArticle

    What the IRS Criminal Investigation Fiscal Year 2017 Annual Business Report Means for Tax Professionals and Taxpayers...

  • View detailsPresentation

    TXCPA Advanced Estate Planning Conference...

  • View detailsFirm News

    Paul Budd has written the cover article in the January/February 2019 issue of Today's CPA magazine...

VIEW MOST RECENT
 
 
 
 
 
 
View All
     
Showing 3 of 10

Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P.

901 Main Street, Suite 3700
Dallas, TX 75202

Phone: 214.744.3700
Fax: 214.747.3732
Toll Free: 800.451.0093

submit inquiry
blog

Filing Dates have Changed for Some Tax Returns, FBARs and New Rules for Auditing Partnerships

By Charles M. Meadows, Jr. on January 11, 2016

Changes have been made to Partnership Tax Return and FBAR filing dates for 2016:

    1.  Partnership Tax Returns now need to be filed on March15th not April 15th.

    2.   C Corporation Returns will be due on April 15th not March15th.

    3.  FBARs will be due on April 15th not June 30th this year.

Also, taxpayers need to be aware that beginning in 2018, the IRS will be able to assess income tax deficiencies against the partnership and not individual partners unless the partnership elects out of the new audit rules. This is important because under current rules, a partnership which has a trust as a partner cannot elect out of those rules. Many partnership agreements will need to be amended to take this change into account.