IRS Extends More Tax Deadlines to July 15th
Posted April 2020
In an additional effort to help Americans combat the COVID-19 pandemic, the IRS has expanded relief and extended even more tax filing and payment deadlines to July 15. There are more than 300 deadlines for various returns and payments postponed. The extensions generally apply to all taxpayers that have a payment deadline falling on or after April 1, 2020, and before July 15, 2020, including fiscal year and extended returns.
Important highlights of this relief include:
- 2020 second quarter estimated income tax payments for individuals, trusts, corporations, and nonprofits
- Individual income tax payments and return filings to include 1040-SR, U.S. Tax Return for Seniors, and 1040-NR, U.S. Nonresident Alien Income Tax Return
- Fiscal year corporate income tax payments and return filings on Form 1120, U.S. Corporation Income Tax Return
- Fiscal year partnership return filings on Form 1065, U.S. Return of Partnership Income
- Exempt Organization Form 990 series, including business income tax payments and return filings on Form 990-T
- Excise tax payments on investment income and return filings on Form 990-PF, Return of Private Foundation
- Estate and trust income tax payments and return filings on Form 1041, U.S. Income Tax Return for Estates and Trusts
- Estate and generation-skipping transfer tax payments and return filings on Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return
- Annual returns for Employee Benefit or Retirement Plan Form 5500 series
Taxpayers do not need to take any action to receive this relief. Payments, interest and penalties are waived until July 15, 2020.
If you have questions or have a filing and payment obligation that you are not sure is covered under this relief, please contact us.