Drake Tax – Return Due Dates and Deadlines

Article #: 13325

Last Updated: December 11, 2024

 

Tags: Drake Taxefile1120S990T1120H1120C12117 10264 11797 11825 11834

Drake Tax logo

Note  This article comprises former KB articles 12117, 10264, 11797, 11825, 11834, and 13325. It is herein referred to as KB 13325.

Deadlines for federal returns vary by return type.

Most states conform to the federal deadline, however, there may be differences. Taxpayers in federally declared disaster areas may have extended deadlines. Compliance with an e-filing deadline is based on the time the return is e-filed, not on service center receipt times. The deadline is midnight local time on the date the return is due. Once a return is transmitted, it goes directly to the IRS and cannot be stopped or recalled.

Important  Drake Software strongly suggests that you e-file several hours before the deadline to ensure a timely filing.

Form 1040

  • Standard Due Date – April 15

  • 2024 Filing Season Deadline – Tuesday, April 15, 2025

  • Form 4868 Extends Filing Deadline by – 6 months

  • 2024 Filing Season Extended Return Deadline – Wednesday, October 15, 2025

  • Perfection Period – 5 days

Exceptions:

  • Farmers and Fishermen (if taxpayer gets 2/3 of their income from farming or fishing) must file by March 1 to avoid estimated tax penalties (unless they pay their entire 2024 estimated tax by Wednesday, January 15, 2025. The deadline is Monday, March 3, 2025 for 2024 returns.

  • US Citizen or resident aliens living and working (or on military duty) outside the United States and Puerto Rico must file by Monday, June 16, 2025 or request an extension to file by Wednesday, October 15, 2025. See Drake Tax - 1040/1040-NR - Extending Due Date to June 15 for details.

Form 706

  • Standard Due Date – 9 months after date of decedent's death

  • Form 4768 Extends Filing Deadline by – 6 months

  • Perfection Period – 5 days

Form 709

  • Standard Due Date – April 15

  • 2024 Filing Season Deadline – Tuesday, April 15, 2025

  • Form 4868 Extends Filing Deadline by – 6 months

  • 2024 Filing Season Extended Return Deadline – Wednesday, October 15, 2025

  • Perfection Period – 5 days

Form 1041

  • Standard Due Date – 15th day of the 4th month following the close of the entity's year

  • 2024 Filing Season Deadline (calendar year) – Tuesday, April 15, 2025

  • Perfection Period – 10 days

  • Form 7004 Extends Filing Deadline by – 5.5 months (6 months for a bankruptcy estate return)

  • Extension Perfection Period – 5 days

  • 2024 Filing Season Extended Return Deadline – Tuesday, September 30, 2025 (Wednesday, October 15, 2025 for a bankruptcy estate return)

Form 1120, 1120-C, and 1120-H

  • Standard Due Date – 15th day of the 4th month following the close of the entity’s year

  • 2024 Filing Season Deadline (calendar year) – Tuesday, April 15, 2025

  • Perfection Period – 10 days

  • Form 7004 Extends Filing Deadline by – 6 months

  • Extension Perfection Period – 5 days

  • 2024 Filing Season Extended Return Deadline – Wednesday, October 15, 2025

Note  Per the 1120 Instructions, "a corporation with a fiscal tax year ending June 30 must file by the 15th day of the 3rd month after the end of its tax year. A corporation with a short tax year ending anytime in June will be treated as if the short year ended on June 30, and must file by the 15th day of the 3rd month after the end of its tax year."

Form 1065

  • Standard Due Date – 15th day of the 3rd month following the close of the entity’s year

  • 2024 Filing Season Deadline (calendar year) – Monday, March 17, 2025

  • Perfection Period – 10 days

  • Form 7004 Extends Filing Deadline by – 6 months

  • Extension Perfection Period – 5 days

  • 2024 Filing Season Extended Return Deadline – Monday, September 15, 2025

Form 1120-S

  • Standard Due Date – 15th day of the 3rd month following the close of the entity’s year

  • 2024 Filing Season Deadline (calendar year) – Monday, March 17, 2025

  • Perfection Period – 10 days

  • Form 7004 Extends Filing Deadline by – 6 months

  • Extension Perfection Period – 5 days

  • 2024 Filing Season Extended Return Deadline – Monday, September 15, 2025

Form 990

  • Standard Due Date – 15th day of the 5th month following the close of the entity's year

  • 2024 Filing Season Deadline (calendar year) – Thursday, May 15, 2025

  • Perfection Period – 10 days

  • Form 8868 Extends Filing Deadline by – 6 months

  • Extension Perfection Period – 5 days

  • 2024 Filing Season Extended Return Deadline – Monday, November 17, 2025

Form 990-T

  • Standard Due Date – 15th day of the 4th month following the close of the entity's year OR 15th day of the 5th month following the close of the entity's year

    • "An employees' trust defined in section 401(a), an IRA (including SEPs and SIMPLEs), a Roth IRA, a Coverdell ESA, or an Archer MSA must file Form 990-T by the 15th day of the 4th month after the end of its tax year. All other organizations must file Form 990-T by the 15th day of the 5th month after the end of their tax years."

  • 2024 Filing Season Deadline (calendar year) – Tuesday, April 15, 2025 OR Thursday, May 15, 2025

  • Perfection Period – 10 days

  • Form 8868 Extends Filing Deadline by – 6 months

  • Extension Perfection Period – 5 days

  • 2024 Filing Season Extended Return Deadline – Wednesday, October 15, 2025 OR Monday, November 17, 2025

Perfection Periods

Individual Return Perfection Periods

Returns and extensions have to be filed by midnight local time on the due date of the return. The perfection period for 1040 returns and Form 4868 extensions is 5 days. Publication 4164

Note  The perfection period is not an extension. If you do not make a timely filing, there is no perfection period.

You can re-transmit the filing more than once during the perfection period, but any transmission after the perfection period ends is considered to be a late filing.

To paper-file a return or extension that was timely e-filed, but rejected:

  1. The return or extension must filed by the later of the due date of the return or ten calendar days after the date the IRS gives notification that it rejected the return. (Publication 1345)

  2. The return or extension should include:

    1. an explanation of why it is being filed after the due date, and

    2. a copy of the electronic rejection notification.

  3. A return or 2350 extension must be signed by the taxpayer and preparer. Do not use a PIN. (See the instructions with the form if a taxpayer is not available for signature.)

Business Return or Extension Perfection Periods

The perfection period is a 5 or 10 day period of time during which you can "perfect" a rejected e-filing. Generally, the perfection period begins when a return or extension is transmitted timely and may extend beyond the due date of the filing. The length of the period depends on what type of return you have e-filed. Deadlines are midnight local time, but we recommend that you file as early as possible to ensure a timely filing:

  • 7004 and 8868 extension - 5 days

  • 1120, 1120-S, 1065, 1041 and 990 - 10 days

Publication 4163 states that the IRS "looks back" 5 or 10 days from the date of an accepted e-filing, determines the date of the earliest rejection during that period and attributes the accepted e-filing to that date. Thus, if the earliest rejection during the period is timely, the accepted e-filing is considered timely. Note that "the perfection period is never extended regardless of weekends, holidays or the end of the year cutoff."

Note  DRKPARSE and Drake B-ack errors do not qualify for the perfection period.

To correct a business return rejection that occurs after the due date of the return, where the initial e-filing was timely, you have two choices. During the perfection period, you can either correct the return and re-transmit it or you can paper-file the return. A taxpayer (a large business) who is required to e-file may need an e-file waiver to paper-file a corrected return (see Notes below).

To re-transmit a corrected business return or extension:

  • Figure the perfection period from the last timely filing of the return or extension.

  • Diagnose, correct and re-transmit that filing.

  • You must re-transmit the corrected return within the perfection period.

  • You can re-transmit more than once during the perfection period.

  • Any retransmission after the end of the perfection period results in a late filing

To paper file a corrected business return or extension:

  1. A paper return must:

    1. Have an e-file waiver if the taxpayer is required to e-file. The taxpayer must call the IRS e-help Desk, 1-866-255-0654, to advise that they have not been able to have their return accepted. The e-help Desk will provide an e-Case number to the taxpayer.

    2. Be postmarked by the later of the due date of the return (including extensions) or 10 calendar days after the date the IRS last gives notification that the return is rejected.

    3. Include:

      1. An explanation of why the return is being filed after the due date.

      2. A copy of the reject notification.

      3. A brief history of actions taken to correct the electronic filing.

      4. A note written in red at the top of the first page of the paper filing - REJECTED ELECTRONIC RETURN - (DATE). The date is the date of first reject within the perfection period.

      5. Be signed by the taxpayer.

  2. A paper extension must:

    1. Be postmarked by the later of the due date of the return, or 5 calendar days after the IRS last gives notification that the extension is rejected. A taxpayer who is required to e-file a return is not required to e-file an extension, and an e-file waiver is not necessary.

    2. Include

      1. An explanation of why the extension is being filed after the due date.

      2. A copy of the reject notification.

Note   

  • The information in this article is extracted from IRS Publication 4163, Modernized e-File (MeF) Information for Authorized IRS e-file Providers for Business Returns.

  • Notice 2010-13 applies to taxpayers who are required to e-file - partnerships with 100 or more K1s, and some corporations, S corporations and tax-exempt organizations with assets of $10 million or more. "Notice 2010-13 provides that a taxpayer required to e-file can request a waiver from the electronic filing requirement when it cannot meet the electronic filing requirements. Before filing a paper return, corporations, partnerships and tax exempt organizations required to e-file must contact the e-help Desk (1-866-255-0654) to attempt to resolve the rejection conditions. If the rejection conditions cannot be resolved, these taxpayers must receive authorization from the e-help Desk before filing a paper return." (IRS Publication 4163).

  • Per the 7004 Instructions, the IRS will no longer send a notification that your extension has been approved. They will notify you only if your request for an extension is disallowed. Properly filing Form 7004 will automatically give you the maximum extension allowed from the due date of your return to file the return.

For more information, see:

Educational Videos

Watch these short instructional videos for more information about deadlines and extensions: