IRS Extends Additional Filing and Payment Deadlines

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On April 9, 2020, the Internal Revenue Service issued Notice 2020-23 which extends more tax deadlines to cover individuals, estates, corporations and others. This extension includes a variety of tax form filings and payment obligations that are due between April 1, 2020 and July 15, 2020, including estimated tax payments due June 15 and the deadline to claim refunds from 2016. The Notice also suspends associated interest, additions to tax, and penalties for late filing or late payment until July 15, 2020.

  • Individual income tax payments and return filings on Form 1040
  • Calendar year or fiscal year corporate income tax payments and return filings on Form 1120, 1120-H, 1120-S
  • Calendar year or fiscal year partnership return filings on Form 1065
  • Estate and trust income tax payments and return filings on Form 1041
  • Estate and generation-skipping transfer tax payments and return filings on Form 706
  • Gift and generation-skipping transfer tax payments and return filings on Form 709
  • Exempt organization business income tax and other payments and return filings on Form 990-T Exempt Organization Business Income Tax Return
  • Excise tax payments on investment income and return filings on Form 990-PF, Return of Private Foundation
  • Quarterly estimated income tax payments calculated on or submitted with Form 990-W, Estimated Tax on Unrelated Business Taxable Income for Tax-Exempt Organizations, 1040-ES,  1041-ES, Estimated Income Tax for Estates and Trusts, and 1120-W, Estimated Tax for Corporations.

Previously, the IRS issued the following notices regarding the extension of various filing and payment deadlines:

  • On March 18, 2020, IRS issued Notice 2020-17, which postponed the due date for certain Federal income tax payments from April 15, 2020 until July 15, 2020 due to the novel coronavirus (COVID-19) emergency.
  • On March 20, 2020, the IRS issued Notice 2020-18, which also postponed until July 15, 2020 the filing date for 2019 federal income tax returns and 2020 federal estimated income tax payments that would otherwise be due on April 15, 2020.
  • On March 27, 2020, the IRS issued Notice 2020-20, which extended recent income tax filing and payment relief to those taxpayers who have gift tax or GST tax obligations otherwise due by April 15 to July 15, 2020. This Notice also announced that this 3-month period would be disregarded for purposes of calculating interest and penalties.

Please contact an ARM tax professional with any questions or to discuss in further detail.