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Tax Planning & Preparation, Business Advisory Services, Business Income
March 15th Due Date for Returns Extended to March 20, 2018 for Some
By David H. Goodman, Mar. 15th, 2018
The Internal Revenue Service and Massachusetts Department of Revenue today granted many businesses affected by this week's severe winter storm additional time to request a six-month extension to file their 2016 federal income tax returns.  
The IRS is providing this relief to victims and tax professionals affected by this week's storm (known as Winter Storm Stella) that hit portions of the Northeast and Mid-Atlantic.
Business taxpayers who are unable to file their tax return by today's due date (March 15, 2017) can request an automatic extension by filing Form 7004, available on IRS.gov, on or before March 20, 2017.  Form 7004 provides a six-month extension for returns filed by partnerships (Forms 1065 and 1065B) and S corporations (Forms 1120S).
Eligible taxpayers taking advantage of this relief should write "Winter Storm Stella" on their Form 7004 extension request (if filing Form 7004 by paper).  As always, the fastest and easiest way to get an extension is to file this form electronically.
For Massachusetts business taxpayers who are unable to remit the payment necessary to receive an automatic extension by the regular due date, Thursday, March 15, 2018, will receive an automatic extension if they have remitted the greater of (i) 50% of the total amount of tax ultimately due or (ii) the minimum corporate excise to DOR on or before Tuesday, March 20, 2018.  Most extension payments by corporate excise taxpayers are required to be made electronically. SeeTIR 16-9. For Massachusetts entities affected by winter storm Quinn may also file by March 20th.
Corporate excise taxpayers needing an extension longer than the amount provided should contact DOR's Customer Service Bureau for assistance at (617) 887-6367 or toll-free within Massachusetts at (800) 392-6089.
Please contact us if you need assistance.