Posted On: April 10, 2020 by Hogan - Hansen in: Tax
On April 9, 2020, the IRS provided taxpayers additional tax filing and payment deadline relief amid the coronavirus pandemic. The new relief, issued in Notice 2020-23, applies to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020, including individuals, trusts, estates, corporations, and other non-corporate tax filers. That period will be also be disregarded by the IRS in calculating any interest, penalties, or additions to tax for failure to file the forms specified in the notice.
The Notice provides automatic relief to the affected taxpayers — you do not have to file extensions or send documents to the IRS to obtain relief. The relief encompasses forms and the related schedules and attachments
The Notice postpones the June 15 deadline for the second 2020 estimated income tax payment for individuals to July 15. The first and second estimated income tax payments for individuals are now both due on July 15, 2020.
LEGAL DISCLAIMER: The information presented on this blog should not be construed as legal, tax, accounting or any other professional advice or service. You should consult with a professional advisor familiar with your particular factual situation for advice concerning specific tax or other matters before making any decision.
The Notice also affects exempt organizations (nonprofits) that have a filing or payment deadline for Form 990 or 990T falling after April 1, 2020 and before July 15, 2020.
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