The WashingtonCPA 2015 Fall

Page 20


“This legislative victory is proof that persistence yields results,” says Rich Jones, WSCPA President & CEO. “It just makes sense to complete flow-through returns before individual and corporate returns are due so that the required information is available. This victory is part of the profession’s overall effort to help alleviate the crunch that occurs every tax filing season.”


WashingtonCPA Fall 2015

The new law also provides for additional extensions not previously allowed. The due date for FinCEN Form 114, for example, will change from June 30 to April 15 to align with Form 1040 filings, and under the new law, Form 114 taxpayers will be allowed an extension, which was not previously permitted. That extended date, October 15, is also aligned with the Form 1040 extension. “This is a terrific result, but we are not stopping here,” says Rich Jones. “Taxpayers and preparers still face a host of other workload compression challenges. The WSCPA is working with the AICPA to find ways to address common complaints about the current due dates for other forms, including Form 1099s that taxpayers need in order to file their tax return. We will continue to work with them to help address these issues.”

For a complete list of the recent due date changes, download the chart at (search for Due Dates Summary Chart or go to www.aicpa. org/Advocacy/Tax/TaxLegislationPolicy/ DownloadableDocuments/Due-DatesSummary-Chart.pdf).

Learn More Due Dates Summary Chart Download at (search for Due Dates Summary Chart or go to Advocacy/Tax/TaxLegislationPolicy/ DownloadableDocuments/DueDates-Summary-Chart.pdf)