COVID-19 Tax Resources

IRS EXTENDS DEADLINES (NOTICE 2020-18)

What are the new extended tax deadlines?

  • On March 20, 2020, the IRS formalized their relief program by publishing Notice 2020-18.
  • Notice 2020-18 provides that those with a filing deadline of April 15 (for a federal income tax return) have an automatic extension to July 15. No extension form (Form 4868 or Form 7004) is necessary.
  • The postponement of payments is available for federal income taxes (including payments of tax on self-employment income) due on April 15 for the 2019 tax year and to estimated income tax payments due on April 15 for the 2020 tax year.
  • The postponement means that the period from April 15, 2020 through July 15, 2020 will be disregarded by the IRS for purposes of calculating any interest, penalties or additions to tax for failure to file a tax return or pay federal income taxes postponed by the notice.

What type of entities are included in this relief?

  •  Individuals
  • Trusts
  • Estates
  • Partnerships
  • Associations
  • Corporations

Does this relief affect second quarter tax estimates?
No, Notice 2020-18 does not address second quarter estimated income tax payments.

What are the due dates for individual retirement accounts (IRAs), health savings accounts (HSAs) and Archer medical savings accounts (MSAs)?
The deadline for making contributions to IRAs, HSAs and MSAs is extended to July 15, 2020.

If you have already filed your 2019 income tax return and scheduled taxes to be paid by April 15, 2020, can this payment be cancelled or rescheduled?
You may cancel the scheduled payment by calling the U.S. Treasury Financial Agent at 888.353.4537 at least two business days prior to the scheduled date. Then, go to irs.gov/directpay to reschedule the tax payment to meet the new deadline.

Are the States following the IRS relief provisions?
Many of the states have different relief provisions. The AICPA is tracking the individual state provisions in a chart that can be downloaded by clicking this link: AICPA State Tax Filing Relief Chart.