Federal Tax Filing Deadline Moved to July 15, 2020
Important Changes from Prior Guidance
Late on Friday, March 20, the IRS announced that the April 15, 2020 tax filing deadline is extended to July 15, 2020. This announcement applies to tax returns for businesses, individuals, trusts and estates that other otherwise would have been due on April 15.
Previous IRS guidance had extended the April 15 payment deadline to July 15, but maintained the filing deadline of April 15. That has now changed. Both the filing date and the payment date are both extended to July 15, 2020. The payment and filing extensions apply only to income and self-employment taxes, not for any other taxes.
Extension forms do not need to be filed – the change is automatic for all taxpayers.
This extension also applies to estimated tax payments that would otherwise be due on April 15. The announcement made no mention of the individual estimated tax payments due June 15.
Previous IRS guidance included a limitation on payment extensions such that it applied only if the payment amounts were beneath certain thresholds. That has changed. The payment extension now applies to all taxpayers, regardless of the amount of the payment.
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