IRS Reduces business tax extension period.

• Position: News & trends

The IRS has moved the extended due date for partnership, estate and trust tax returns from Oct. 15 to Sept. 15 to avoid overlapping with the extended deadline for individual taxes. The change is aimed at easing the burden on taxpayers who must report information they receive from K-1 schedules and similar documents on their individual tax returns. Currently the extended due date for both businesses and individuals often falls on the same date, generally Oct. 15.

[ILLUSTRATION OMITTED]

The change will be effective for extension requests for tax...