After previously extending the deadline for tax return filings and payments due April 15 to July 15, the IRS has announced that the July 15 deadline now generally applies to all taxpayers with a tax return filing or payment deadline due date between April 1 and July 15. 

A few of the new extensions to July 15, 2020 (for returns or payments otherwise due between April 1 and July 15) addressed in the Notice include:

  • Second-quarter estimated tax payments;
  • Corporate income tax payments and return filings on Forms 1120, 1120-C, 1120-F, 1120-REIT, 1120-RIC and other 1120 forms;
  • Forms 990 and 990-PF; 
  • 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 (including those filed to make a so-called “portability” election);
  • Gift and generation skipping tax payments and return filings on Form 709 and any accompanying gift and generation-skipping transfer tax payments;
  • Estate tax payments of principal or interest due as a result of an election made under sections 6166, 6161, or 6163 and annual recertification requirements under section 6166 of the Code; and
  • All schedules, returns and other forms that are filed as attachments to, or elections that are required to be made on, forms whose due dates have been postponed under the COVID-19 relief issued by the IRS, including, for example, Schedule H and Schedule SE, as well as Forms 3520, 5471, 5472, 8621, 8858, 8865, 8938, and 8971.

Notice 2020-23, which announced this relief, uses sweeping language that postpones “all specified time-sensitive actions” until July 15. This relief includes the time for filing all petitions with the Tax Court, filing a claim for credit or refund of any tax, and bringing suit for credit or refund of any tax. This relief would also apply to the 45-day identification and 180-day closing periods required for a deferred exchange under Section 1031 and the 180-day reinvestment period for qualified opportunity zone investments, meaning if a deadline would have otherwise fallen within April 1 and July 15, July 15 is the new deadline. The notice does not provide relief for any deadlines that expired before April 1, 2020.

The relief is automatic; taxpayers do not have to call the IRS or file any extension forms to receive the relief. However, taxpayers who need additional time beyond the July 15 due date may choose to file the appropriate extension form by July 15, 2020, but the extension date may not go beyond the original statutory or regulatory extension date. For instance, an extension request for Form 1040, U.S. Individual Income Tax Return, will not extend the due date for that return beyond October 15, 2020 and will not extend the time to pay federal income tax beyond July 15, 2020.

Note that the Notice also provides the IRS with a 30-day postponement to perform certain “time-sensitive actions” including the assessing of any tax, providing notice or demand for the payment of any tax, collecting, by levy or otherwise, the amount of any tax, and bringing suit in respect of any tax.

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