On July 31, 2015, President Obama signed into law H.R. 3236 entitled The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (hereinafter the “Act”), that is anticipated to be partially paid for by a number of new tax compliance requirements.
The Act amended a number of provisions within the Internal Revenue Code and modified a number of tax return filing due dates for tax years beginning after December 31, 2015 (i.e., the scope and application of the Act will apply to 2016 tax returns) with the intention to create a more logical flow of information and tax reporting. For example, under the Act, the tax return filing due date for Partnerships to file Form 1065 will move up from April 15th to March 15th (i.e., two and a half months after the close of its tax year). This will now mirror Read More