COVID-19: DEADLINE EXTENSION INFORMATION

DEADLINE EXTENSIONS RELATED TO COVID-19

Extensions generally now apply to all taxpayers that have a federal filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020.

Specifically, per IRS Notice 2020-23, any person, as defined in IRC 7701(a)(1), with a Federal tax return, other form filing obligation, or time sensitive action other which is due to be performed (originally or pursuant to a valid extension) on or after April 1, 2020, and before July 15, 2020 is automatically postponed (extended) to July 15, 2020.

If you will need additional time to file beyond July 15, the usual extension form can be filed by July 15, 2020, to obtain an additional extension to file your return. The extension date may not go beyond the original statutory or regulatory extension date. For example, a 2019 calendar year Form 1040 cannot be extended beyond October 15, 2020.

No interest or penalties will accrue on these returns or payments between April 1, 2020 and July 15, 2020. Interest and penalties will begin to accrue on July 16, 2020.

Many states have  provided, their own relief, with the majority adopting the new federal extension to July 15, 2020. See our State & Local Tax Resources Page for more information. 


IRS GUIDANCE AND RESOURCES
 

IRS Coronavirus Tax Relief Page

IRS Filing and Payment Deadline FAQ - Follow this link to access the IRS web page with questions and answers relating to the extended federal filing and payment deadlines.

Notice 2020-35 - On May 28, 2020 the IRS announced deadline postponements for certain specified time-sensitive actions with respect to certain employment taxes, employee benefit plans, exempt organizations, and Coverdell education savings accounts on account of the ongoing COVID-19 pandemic.

Notice 2020-23 - On April 9, 2020 the IRS updated Notice 2020-18, for a second time, to provide additional guidance regarding extended deadline relief for taxpayers affected by the ongoing coronavirus disease 2019 pandemic.
 
Notice 2020-20 - On March 27, 2020 the IRS updated Notice 2020-18 to provide additional guidance regarding extended deadlines for non income tax filings.  Specifically, this notice extends the due date for 2019 Gift and Generation-Skipping Transfer Tax Returns (Form 709) and related payments until July 15, 2020.

IR-2020-59 - On March 25, 2020 the IRS unveiled its new People First Initiative.  This initiative temporarily adjusts or suspends key compliance programs in reaction to the COVID-19 pandemic.

Notice 2020-18 - On March 20, 2020 the IRS issued a REVISED Notice entitled "Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic," providing details about the relief being granted for tax filings and payments due April 15, 2020.  This notice supersedes Notice 2020-17 which was issued on March 18, 2020.


TAX WARRIOR BLOGS AND ALERTS

April 9, 2020 - IRS Expands Extension Relief - Now Includes Q2-2020 Individual Estimates

March 25, 2020 - Update on Federal and State Tax Deadlines

March 20, 2020 - IRS Provides Expanded Relief for All Taxpayers with April 15th Deadlines

March 18, 2020 - IRS Provide Guidance on Coronavirus Relief Package

March 18, 2020 - IRS Unveils People First Initiative



TAX WARRIORS IN THE NEWS

May 7, 2020 - Read This Before You File Your Tax Return - (Bloomberg)

April 29, 2020 - Listen to D&S Partner Steven Rossman on a recent webinar by PROXUS HR on "COVID-19: The Never-Ending Tax Year."



THIRD PARTY RESOURCES

April 8, 2020 - AICPA Posts 20 FAQs on Tax Filing Relief

April 1, 2020 (Updated) - Here's What We Know About Closings, Extensions, Other Tax Relief Due to Coronavirus Concerns (Kelly Erb, Forbes)

March 23, 2020 - States Worry Tax Extensions Will Have Dire Fiscal Results (Maria Koklanaris, Law360)

March 17, 2020 - Federal Treasury Secretary Says Tax Payments Deferred until July 15, 2020 (AccountingToday)

March 16, 2020 - Amid COVID-19, Countries Up Tax Relief To Keep Economies Afloat (Alex M. Parker, Law360)