New Tax Filing Deadlines for Partnerships and Corporations

By: Amanda Wilson

Last Friday, President Obama signed into law a bill that provides temporary funding for the highway trust fund. Buried in the law are several permanent changes to the tax code that are unexpected. Specifically, the deadline for filing tax returns for partnerships and S corporations has been moved up a month, from April 15th to March 15th. The deadline for filing tax returns for corporations has been moved back a month, from March 15th to April 15th. These changes will apply for tax returns due for tax years starting in 2016. As almost every structure for Senior Living investment involves a partnership or corporation, you need to be aware of these changes.

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