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Congress Allows Single Six Month Extension of Form 990 Series

The week before last, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 was approved quickly by both the House and the Senate and immediately signed into law by President Obama. The primary purpose of this stop-gap bill was to avoid a lapse in highway and transportation spending. The law contains several substantive tax provisions and, somewhat surprisingly, numerous provisions affecting the due dates of tax returns. The most widely-discussed of these are a change of the due date of partnership returns from April 15 to March 15 and a mirror-image change of the due date of C corporation returns from March 15 to April 15, both of which go into effect for tax years beginning after December 31, 2015.