S Corporation and Partnership Have New Filing Deadlines for 2016 – Fast Approaching
If you operate your business as an S Corporation or a Partnership for income tax purposes, and you have a calendar year end, the deadline for filing 2016 year end returns is March 15th, 2017. This is a change from last year and has been moved up by one month. This was done so that the individual partners and shareholders will have plenty of time to receive their K-1’s and properly prepare their personal taxes in advance of the filing deadline of April 18th 2017 for individual income taxes. In Michigan,if you operate as an S Corporation vs a C Corporation you are no longer required to file a business tax return for State tax purposes. If you have not yet completed your 2016 year end books and records, you can easily obtain and file for an automatic 6 month extension of time until September 15th, 2017 by filing IRS Form 7004. For Michigan tax purposes no business extension is required.