Tax filing extension deadline for diff entites

  • Creator
    Topic
  • #190585
    pia ach
    Member

    Individual ,C corp & s corp have 6 months deadline, however for partnership.trust and estates is it 5 months?

    Finally done!!! Experience-pending. Ethics- Pending.
    Reg 78 / 73/82.
    Aud 74/89.
    BEC 72 /78.
    FAR 74/ 73/ 82.

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  • #635720
    SeaPeaYay
    Participant

    Yes, Partnerships have an original deadline of 4/15/xx. Since they generate a K-1 needed for a person's 1040, if they had a 6 month extension time (Oct 15) the individual wouldn't have time to prep their taxes since Oct 15 is also the deadline for extended 1040 returns. S corps which also generate a K-1 have an original filing date of 3/15/xx so a 6 month extension lands them at September 15 which still gives the individual a month to use the K-1 for their 1040 prep. Hope that makes sense.

    FAR 10/18/14... 82
    REG 11/18/14... 87
    AUD 01/06/15... 71 Grrr 5/06/2015 ... 73 Doh 7/13/15 ... 69 Ack 11/18/15 ... 86!!!
    BEC 02/07/15... 79

    #635721
    pia ach
    Member

    Thanks seepeayay.

    Finally done!!! Experience-pending. Ethics- Pending.
    Reg 78 / 73/82.
    Aud 74/89.
    BEC 72 /78.
    FAR 74/ 73/ 82.

    #635722
    omalloy
    Member

    How do extensions work for partnership and other entities with non calendar year? Does anyone have a nice chart, shortcut to share?

    FAR 65, 70, 78
    REG 64, 76
    BEC 70, 80
    AUD 81

    Ethics 96

    Péter un plomb

    #635723
    taxgeek83
    Participant

    @omalloy – Try this:

    https://www.irs.gov/publications/p509/ar02.html#en_US_2015_publink100034286

    The number of months that you are allowed an extension is the same regardless of whether you operate on a calendar year or a fiscal year. So you would calculate your original due date, and then add the appropriate extension time (i.e. 6 months for individuals, 5 months for partnerships, etc.).

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