March 15, 2017 – There is one new deadline of which taxpayers should be aware: Form 1065, U.S. Return of Partnership Income, is now due March 15 rather than April 15.

What does that mean for businesses and tax professionals? The changes coming next year are, in part, the result of years of lobbying by the American Institute of CPAs, as well as others. For individual taxpayers with ownership interests in partnerships, having the same due date for individual and partnership tax returns made it difficult, if not impossible, to file individual returns by the April 15 due date.

About Matthews, Carter & Boyce

Founded in 1947, Matthews, Carter and Boyce is a full-service tax and accounting firm serving clients in the Washington, D.C. and surrounding areas. Located in Fairfax, Virginia, our staff of more than 50 professionals aim to serve our clients as trusted advisors. We specialize in serving closely-held, not-for-profit, government contractors, investment and private equity, real estate and hospitality industries.

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