New Informational and Tax Return Due Dates

New federal laws move the filing deadlines for certain informational and tax return due dates in 2017.

New Filing Deadline for Form W-2 and Certain Forms 1099

In an effort to combat refund fraud, small businesses and employers will now have to file Forms W-2 and certain Forms 1099 to the government by January 31, 2017. Employers used to have until the end of February, if filing paper, or the end of March, if filing electronically, to send in copies of these forms.

If you would like for us to prepare these forms for you, please submit your information to us as early as possible in January, so that these new deadline dates can be met.

The Form 1099 that is affected by this new law is the one that reports nonemployee compensation, such as payments to independent contractors. If you made payments during the calendar year as a small business, a self-employed (individual), or if you had rental property, you are most likely required to file an information return to the IRS. For more information about these requirements, visit the IRS website on this topic. One of the questions on your 1040 Individual Tax Return asks if you made any payments that would require you to file Form(s) 1099.

The new law will also delay some taxpayer refunds. Those taxpayers claiming the Earned Income Tax Credit or the Additional Child Tax Credit won’t see refunds until February, 15, at the earliest.

Revised Tax Return Due Dates

Filing and extension deadlines have also changed for other tax returns. Partnerships as well as Trusts and Estates and Exempt Organizations are some of the returns affected. The new due date rules will go into effect for the 2017 tax filing season (tax year 2016).

Under the new law, for fiscal year partnerships, returns will be due on the 15th day of the 3rd month after the year-end. A six-months extension is allowed from that date. Extension deadlines for both Trusts & Estates and Exempt Organizations have changed to September 30 and November 30 respectively. For a complete overview of all the changes, download the Original And Extended Tax Return Due Dates guide from our resource page.