In Notice 2020-23, the Internal Revenue Service has extended the payment and filing obligations for certain income tax returns and income taxes due (originally or pursuant to an extension) on or after April 1, 2020 and before July 15, 2020. The due date of these extended payment and filing obligations is now July 15, 2020. NOTE: This notice does not change the due date of payments or filings for payroll tax returns and certain other non-income tax returns.
This relief is automatic and no extension form is required. However, an extension must be filed to obtain additional time beyond July 15, 2020 when allowed. Taxpayers must also review all state and local filings to determine when they are due.
Calendar year individual, corporate, partnership, trust and estate returns have already been provided an extension of time to file and pay until July 15, 2020. This notice expands relief for some common forms and payments highlighted below.
- Second quarter 2020 estimated tax payments for individuals, corporations, trusts and estates due June 15, 2020 are now due July 15, 2020.
- Payment and filing of fiscal year tax returns for partnerships, corporations, trusts and estates with due dates falling between April 1, 2020 and July 15, 2020 are now due July 15, 2020.
- Estate, gift and generation skipping transfer tax payments and returns with due dates falling between April 1, 2020 and July 15, 2020 are now due July 15, 2020.
- Private foundation, Form 990-PF returns normally due on May 15, 2020 are now due July 15, 2020.
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.
