IRS Extends More Tax Deadlines

In March, the IRS announced extended tax filing and payment deadlines. On April 9, the IRS expanded this to include additional returns, tax payments and other actions.

According to the IRS notice, “As a result, the extensions generally now apply to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020. Individuals, trusts, estates, corporations and other non-corporate tax filers qualify for the extra time. This means that anyone, including Americans who live and work abroad, can now wait until July 15 to file their 2019 federal income tax return and pay any tax due.”

The IRS also stated that individuals who need time beyond the July 15, 2020 deadline can request an extension to October 15, 2020 by filing Form 4868. Businesses must file Form 7004 to extend. Extensions do not extend time to pay taxes owed.

Further, the April 9 notice provided extended relief to estimated tax payments previously due June 15, 2020. According to the notice, “Any individual or corporation that has a quarterly estimated tax payment due on or after April 1, 2020, and before July 15, 2020, can wait until July 15 to make that payment, without penalty.”