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By: Vern Hoven

How Long Are Corporate Extensions?

How Long Are Corporate Extensions?

The IRS has reassured the public that it knows what it is talking about in the 2016 instructions for Form 7004. Apparently, the IRS has been getting inquiries from preparers who are wondering if the instructions for Form 7004 are correct. The instructions indicate that the automatic extension period for corporations is six months, while §6081(b) states that the extension period for corporations is five months. The IRS explained that they were relying upon §6081(a) for the authority to grant six-month extensions, rather than the five-month extension period specified in §6081(b).

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By: Vern Hoven

Last Minute Changes Affect Clients

Last Minute Changes Affect Clients

Two significant last minute changes will affect your clients: - A federal judge enjoined nationwide implementation of the Department of Labor Overtime Regulations. - The IRS issued Notice 2016-70 granted a delay for Form 1095 reporting to individuals.

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