Due date of final 1120-S?

Discussion in 'Accounting' started by Peabody, Nov 19, 2014.

  1. Peabody

    Peabody Guest

    A calendar-year Subchapter S corporation was formally dissolved and all
    assets distributed on November 6, 2014. One CPA says "the 15th day of the
    third month" is calculated from the end of the short year, and the final
    return is therefore due January 21, 2015.

    However, I found this in Publication 538 in the Short Tax Year section:

    "Example 2.

    A calendar year corporation dissolved on July 23, 2012. Its final return is
    due by October 15, 2012. It will cover the short period from January 1, 2012,
    through July 23, 2012."

    So that example would imply that in my case the due date would be February
    15, 2015.

    I'd like to know what position the IRS takes in actual practice on this
    issue. It doesn't appear to be spelled out anywhere in the regs that I can
    find.

    Any insights would be appreciated.
     
    Peabody, Nov 19, 2014
    #1
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