To print this article, all you need is to be registered or login on Mondaq.com.
- The IRS and Treasury issued new
guidance that supersedes earlier guidance relating to the
postponement of the April 15, 2020 tax deadline due to the COVID-19
- On Friday, the IRS and Treasury
announced that both the April 15, 2020 due date for filing U.S.
federal income tax returns and for making U.S. federal income tax
payments has been automatically postponed to July 15, 2020.
- This postponement of the April 15th
due date applies to both (i) U.S. federal income tax payments and
returns for the 2019 income tax year and (ii) U.S. federal
estimated income tax payments and returns for the 2020 tax year.
The filing and payment due date postponement is automatic and
taxpayers need not submit a request to receive the
- There will be no penalties or
interest imposed for the 90 day deferral period and there is no
longer a limit on the amount of the tax payments a taxpayer may
defer during this time.
- For states that automatically link
their income tax payment and filing deadlines to the U.S. federal
due dates, the postponement also effectively applies to postpone
such states’ corresponding income tax filing and payment
deadlines to July 15th. However, states are actively monitoring the
U.S. federal response to the COVID-19 pandemic and taxpayers should
separately confirm any applicable state’s response to the
change in the U.S. federal filing and payment deadlines.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Tax from United States