Income Tax Return Deadlines

Individual tax returns will be due April 18, 2017. The regular filing deadline is April 15. However, due to April 15 being on a Saturday and the Washington D.C. Emancipation Day holiday being observed on April 17 instead of April 16, Tax Day is on the following Tuesday, April 18.

New tax return deadlines for tax years beginning after December 31, 2015, should make filing more efficient for those with pass through entities.

Form 1065, U.S. Return of Partnership Income, is now due on March 15, 2017. This differs from prior years due date in April. Form 1120S, U.S. Income Tax Return for an S Corporation, is still due March 15, 2017.

Form 1120, U.S. Corporation Income Tax Return, is due on April 18, 2017. This differs from prior years due date in March. Form 1041, U.S. Income Tax Return for Estates and Trusts are due April 18, 2017. 

Form 1099-Misc Reporting

For payments reported on 1099-MISC, the due date to the recipient is January 31, 2017. 

There is a new earlier filing date for non-employee compensation reporting.  The law now requires Form 1099-MISC to be filed with the IRS on or before January 31, 2017, when you are reporting non-employee compensation payment in box 7.

Otherwise, if reporting compensation payments in any other box, file with the IRS by February 28, 2017, if you file on paper, or by March 31, 2017, if you file electronically. The federal threshold for electronic 1099 filings is 250.

Beginning in calendar year 2013, businesses with 11 or more of any type of information return (Form 1099) are required to report the information electronically to Oregon.  The due date to file electronically with the State of Oregon is January 31, 2017. Oregon does not accept paper filings. Payers with fewer than 11 information returns are not required to file 1099s with the State of Oregon.

Annual Payroll Reporting

Employee copies of Form W-2 must be distributed no later than January 31, 2017. 

New due date for filing with SSA.  The due date for filing 2016 Forms W-2, W-2AS, W-2CM, W-2GU, W-2VI, W-3, and W-3SS with the SSA is now January 31, 2017, whether you file using paper forms or electronically. Electronic filing is required if filing 250 W-2s or more.

The 2016 Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return is required to be filed by January 31, 2017.

Oregon requires all businesses to electronically file their Oregon W-2 copies. Again, Oregon does not accept paper filing. You must transmit your W-2s to Oregon no later than January 31, 2017.

The 2016 Form WR, Oregon Annual Withholding Tax Reconciliation Report, reconciles the state withholding on Forms W-2 and 1099-R.  It does not require the attachment of any W-2 or 1099-R forms.  Mail your Form WR separately from your 2016 4th quarter Form OQ.  Form WR is due no later than January 31, 2017.

The Affordable Care Act (ACA) created information reporting requirements for certain large employers and issuers of health insurance coverage. On November 18, 2016, the IRS issued a notice extending the due date for furnishing individuals with Forms 1095-C and 1095-B. The IRS may grant an extension of up to 30 days for good cause. The automatic 30-day extension is from the original due date of January 31, 2017, to March 2, 2017. The IRS has not automatically extended the deadline for employers, insurers and other providers of minimum essential coverage (MEC) to file with the IRS the 2016 Forms 1094-B, 1095-B, 1094-C and 1095-C. The deadline for filing these forms with the IRS continues to be February 28, 2017, or March 31, 2017, if filing electronically.

Penalties and interest may be imposed for failure to properly complete and timely file the forms referred to above. Please be aware that the above is not a complete list of all filing requirements, but is to be used as a source of general information.