Tax Alert

ALERT: IRS filing deadlines changed for 2017 – W-2 & 1099 MISC due earlier; many other deadlines also new

IRS changes 2017 filing deadlines image

November 28, 2016

Between ACA reporting and changes to IRS filing deadlines, employers and taxpayers may be crunched at the start of the year to meet new due dates. Here are the dates you need to know – and be prepared to meet.

In addition, more than 20 states have January due dates for submitting W-2s to the state. It’s best to check with each state for deadlines, as well as the threshold for electronic filing. Kansas’ deadline to have W-2s submitted to the state is the last day of February (for 2017, Feb. 28).

January 31 Deadlines

Payroll

  • W-2s submitted to employees (no change in this date)
  • W-2s submitted to the Social Security Administration (both paper and electronic submission)

1099s

  • 1099s provided to recipients (no change in this date)
  • Certain Forms 1099-MISC (those reporting non-employee compensation in Box 7) submitted to IRS

February 28 Deadlines

ACA Reporting

  • Forms 1094-B, 1094-C and 1095-C to IRS if filing on paper

1099s

  • Most remaining 1099s submitted to IRS if filing on paper

March 2, extended from Jan. 31 – change per IRS notification on Nov. 18. This extension applies only to 2016, then will revert back to original Jan. 31 deadline.

ACA Reporting

  • Forms 1095-B and 1095-C to employees

March 31 Deadline

ACA Reporting

  • Forms 1094-B, 1094-C and 1095-C to IRS if filing electronically

1099s

  • Most remaining 1099s submitted to IRS if filing electronically

The IRS also made significant changes to tax filing deadlines for various other forms as follows – most deadlines were pushed back, with the exception of Form 1065 (partnership income) and FINCEN 114 (report of foreign bank accounts).

Summary

Form     Was Due     Now Due
1065     April 15     March 15, ext. to Sept. 15
1120     March 15     April 15, ext. to Sept 15 for 10 years, then Oct. 15
1041     April 15     Same but ext. to Sept. 30 vs. Sept. 15
990     Two 3-month extensions     1 6-month extension
5500     July 31     Extended to Nov. 15 vs. Oct. 15
FINCEN 114     June 30     April 15 with ext. to Oct. 15
1099s     Feb. 28     Jan. 31

Contact us

For more information on how these deadlines may affect your organization and how to prepare for them, please contact your AGH tax or payroll professionals. You may also contact AGH senior vice president of tax services Shawn Sullivan or AGH senior payroll manager Sonia Phillips using their information below.

Shawn Sullivan

Senior Vice President
Tax Services

Shawn serves as one of two primary leaders in the firm’s large tax group. He has extensive public and private experience in the fields of tax and accounting and works frequently with clients in the manufacturing, wholesale/retail distribution, real estate development and management, construction, and contractor industries. In addition to enhancing business performance to minimize tax consequences, he has experience in mergers and acquisitions and international tax and business structuring.

A certified public accountant, Shawn is a member of the American Institute of Certified Public Accountants, the Kansas Society of Certified Public Accountants (KSCPA) and chairs the KSCPA Committee on Taxation.

Sonia Phillips photo

Sonia Phillips
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Sonia Phillips

Payroll Senior Manager
Outsourcing Services

Sonia and her team handle payroll processing, reporting and tax filings for multi-state and multi-site companies. An AGH employee since 1991, Sonia has expertise in both technology and employee benefits consulting as well as payroll. She has helped develop a variety of operational, management and executive information systems projects within and outside the employee benefits industry. Before joining the outsourcing services group, Sonia managed the technology infrastructure and plan processing systems for AGH’s employee benefits services division. She worked with internal and external clients to accurately assess their information system needs and managed the projects designed to satisfy these needs, as well as any necessary integration.

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NOTE: Any advice contained in this material is not intended or written to be tax advice, and cannot be relied upon as such, nor can it be used for the purpose of avoiding tax penalties that may be imposed by the IRS or states, or promoting, marketing or recommending to another party any transaction or matter addressed herein.