Certain Foreign Organizations and Nonresidents have a Business and Personal Tax Deadline Tomorrow!

Here's what you need to know to extend your IRS filing deadline.

Stephanie Glanville | June 14, 2023 | Read time: 4 minute(s) | Deadline, Extensions | No Comments

There is never a month without a tax filing deadline in a year! Tomorrow, June 15, 2023, is the deadline coming up for certain foreign/domestic organizations and non-residents to file their business and personal tax returns.

Here is everything you need to know about the deadline.

Business Tax Deadline

For foreign corporations that don’t have an office or a business place in the U.S., the deadline to file their business tax returns is the 15th day of the 6th month following the end of their tax year.

This means, if these corporations follow the calendar tax year, the deadline is tomorrow i.e., June 15.

Also, certain foreign/domestic corporations and partnerships are eligible for an automatic extension under Regulations section 1.6081-5, and their extended deadline is also June 15. This includes,

Partnerships that maintain their books and records outside the U.S. and Puerto Rico
Foreign corporations that have an office or place of business in the U.S.
Domestic corporations that transact their business and maintain their books and records of account outside the U.S and Puerto Rico
Domestic corporations whose principal income is from sources within the U.S. possessions

Personal Tax Deadline

Nonresidents who are required to file Form 1040-NR must complete their filing on or before June 15.

This deadline also applies to individuals who are out of the country, for example,

Individuals who live outside the U.S. and Puerto Rico and their main place of work is outside the U.S. and Puerto Rico.

(or)

Individuals who are in military or naval service on duty outside the U.S. and Puerto Rico.

Requesting an Extension

With only a day left before the deadline, now is the time to consider filing an extension.

Business tax filers can use Form 7004 to request an automatic extension of time. The extension period may vary based on the type of business. For example, Partnerships and S-Corporations can get 3 months, whereas C-Corporations can get up to 4 months of extension.

On the other hand, personal tax filers can use Form 4868 to request an extension of time until October 16, 2023.

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