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Screen 8716 - Election to Have a Tax Year Other Than a Required Tax Year (1120)

Election Information

If this election is for a new entity, enter the ending date of the tax year it is adopting.
Enter the ending date of the required tax year if the entity does not file on a calendar year basis.
If the election results in a short tax-year, enter the beginning date of the tax year the election will become effective. The application uses the tax year beginning date to calculate the due date for filing Form 8716.
If Form 8716 is not extended, the application calculates the due date for filing Form 8716 as the earlier of the following dates.
  • The 15th day of the fifth month following the tax year beginning date, or
  • The due date (not including extensions) of the income tax return for the year resulting from the section 444 election.
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