As you know, many tax filing and payment deadlines have been extended until July 15 as a result of the COVID-19 health crisis. At the time these extensions were announced at the end of March, they covered federal individual income tax filing and payment dates, as well as first quarter estimated payments that would have been due April 15. Taxes with May 15 and June 15 deadlines were not extended at that point.
This week, the IRS announced individuals, trusts, estates, corporations and other non-corporate tax filers will have until July 15 to file and pay taxes normally due between April 1, 2020, and July 15, 2020.
- Estimated tax payments due June 15, 2020
- Corporate income tax payments and return filings
- Partnership return filings
- Estate and trust income tax payments and filings
- Exempt organization business income tax payments and filings
- Excise tax payments
- 2016 unclaimed refunds
Even with the extended deadlines, we ask that if you have not already sent in your tax information to please do so as soon as possible. This will give us the needed time to tell you where you stand from a tax standpoint and whether a refund is due.
This communication is intended to provide general information on legislative COVID-19 relief measures as of the date of this communication and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. As legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that may modify some of the provisions in this communication. Some of those modifications may be significant. As such, be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.