24 Frequently Asked Questions About the Extended Tax Deadline

As you may already know, the deadline to file and pay Federal income tax returns is postponed from April 15 to July 15, 2020 in response to the ongoing Coronavirus (COVID-19) pandemic. This historic delay has brought up many questions for taxpayers.

Here are answers to frequently asked questions to help you navigate the new tax deadline.

1. Who is eligible?

tax deadlineAny taxpayer with a Federal income tax return or payment due on April 15, 2020, is eligible for the postponed date of April 15, 2020. This includes any type of taxpayer, such as an individual, a trust, an estate, a corporation, or any type of unincorporated business entity. The payment due refers to both 2019 Federal income tax payments (including payments of tax on self-employment income) and 2020 estimated Federal income tax payments (including payments of tax on self-employment income), regardless of the amount owed. Please note, this does not apply to Federal income tax returns and payments due on any other date.

2. Do I have to be sick, or quarantined, or have any other impact from COVID-19 to qualify for payment relief?

No, you do not have to be sick, or quarantined, or have any other impact from COVID-19 to qualify for relief. You only need to have a Federal income tax return or payment due on April 15, 2020, as described above.

3. What are the form numbers of the specific Federal income tax returns whose filing deadlines have been postponed, from April 15 to July 15?

The Notice postpones the filing and payment of Federal income taxes reported on the following forms:

  • Form 1040, 1040-SR, 1040-NR, 1040-NR-EZ, 1040-PR, 1040-SS
  • Form 1041, 1041-N, 1041-QFT
  • Form 1120, 1120-C, 1120-F, 1120-FSC, 1120-H, 1120-L, 1120-ND, 1120-PC, 1120-POL, 1120-REIT, 1120-RIC, 1120-SF
  • Form 8960
  • Form 8991
  • Form 990-T (If the Form is due to be filed on April 15, then it has been postponed to July 15 under the Notice. For taxpayers whose Form 990-T is due on May 15, that due date has not been postponed under the Notice.)

For returns due on March 16, 2020 (Form 1065, Form 1065-B, Form 1066, and Form 1120-S for calendar year taxpayers) the filing of those returns has not been postponed.

4. I am a fiscal year filer. My Federal income tax return for fiscal year 2019 is due on April 15, 2020. Am I eligible?

Yes, if your Federal income tax return for your fiscal year ending during 2019 is due on April 15, 2020, whether that is the original due date or the due date on extension, your due date is postponed to July 15, 2020.

5. What about businesses or other entities that have filing due dates on May 15, June 15, or some other date besides April 15. Have their filing and payment deadlines been postponed?

No, any taxpayers who have filing or payment due dates other than April 15 have not been granted relief at this time.

6. Does the postponement apply to payroll or excise taxes?

No, normal filing, payment, and deposit due dates continue to apply to both payroll and excise taxes.

7. Does the postponement apply to estate and gift taxes?

No, normal filing and payment due dates continue to apply to estate and gift taxes.

8. Does the postponement apply to section 965(h) installment payments due on April 15, 2020?

Yes, it applies to section 965 installment payments due on April 15, 2020. For any taxpayer whose Federal income tax return filing due date has been postponed from April 15 to July 15, 2020, the due date of that taxpayer’s section 965 installment payment has also been postponed to July 15, 2020.

9. Does the postponement apply to estimated payments for a corporation required to make payments under section 59A (Basis Erosion and Anti-Abuse Tax, or BEAT)?

Yes, for any taxpayer whose Federal income tax return filing deadline has been postponed from April 15 to July 15, 2020, the due date for Form 8991 and the BEAT payment has been postponed to July 15, 2020.

10. Does the postponement apply to the filing of information returns?

No, the relief only applies to the filing of Federal income tax returns due on April 15, 2020.

11. I haven’t filed my 2019 income tax return that would have been due on April 15 yet, but I expect to file it by July 15. What do I need to do?

You don’t need to file any additional forms to qualify for this automatic Federal tax filing and payment relief. You just file and pay any tax due with your return by July 15.  If you need more time beyond July 15, request an automatic extension of time to file.

12. What if I am unable to file my 2019 income tax return that would have been due on April 15 by July 15, 2020?

If you are an individual, you can request an automatic extension to file your Federal income tax return if you can’t file by the July 15 deadline. The easiest and fastest way to request a filing extension is to electronically file Form 4868 through your tax professional, tax software, or using the Free File link on IRS.gov. Businesses, including trusts, must file Form 7004.

The automatic extension must be requested by July 15, 2020. If you file an extension form by July 15, 2020, your tax return will be due on October 15, 2020. To avoid interest and penalties when filing your tax return after July 15, 2020, pay the tax you estimate as due with your extension request.

13. I already filed my 2019 income tax return that would have been due on April 15 and I owe taxes, but I haven’t paid yet. What do I need to do to avoid interest and penalties?

To avoid interest and penalties, pay your taxes in full by July 15, 2020. Interest and penalties will begin to be charged after July 15 for any amount remaining unpaid by that date.

If you filed Form 1040 or Form 1040-SR, the tax payment amount can be found on line 23. If you filed Form 1040-NR, the tax payment amount can be found on line 75. For a corporation filing a Form 1120, the tax payment amount can be found on line 35.

14. I already filed my 2019 income tax return that would have been due on April 15 and scheduled a payment of taxes for April 15, 2020. Will this payment be automatically rescheduled to July 15, 2020?

No, the payment will not be automatically rescheduled to July 15. If you do nothing, the payment will be made on the date you chose. Here is information on how to cancel and reschedule your payment:

  • If you scheduled a payment through IRS Direct Pay, you can use your confirmation number from the payment to access the Look Up a Payment feature. You can modify or cancel a scheduled payment until two business days before the payment date. The email notification you received when you scheduled the payment will contain the confirmation number.
  • If you scheduled a payment through Electronic Federal Tax Payment System (EFTPS), click on Payments from the EFTPS home page, login, then click Cancel a Tax Payment from the left menu and follow the instructions. You must do so at least two business days before the scheduled payment date.
  • If you scheduled a payment as part of filing your tax return (authorizing an electronic funds withdrawal), you may revoke (cancel) your payment by contacting the U.S. Treasury Financial Agent at 888-353-4537. You must call to make a payment cancellation request no later than 11:59 p.m. ET two business days prior to the scheduled payment date.
  • If you scheduled a payment by credit card or debit card, contact the card processor to cancel the card payment

15. Does this postponement apply to state tax liabilities?

No, it applies only to Federal income tax payments. State filing and payment deadlines vary and are not always the same as the Federal filing and payment deadline. Check with your state tax agencies for those details. More information is available here.

16. Are second quarter estimated tax payments postponed as well?

No, second quarter 2020 estimated income tax payments are still due on June 15, 2020. First quarter 2020 estimated income tax payments are postponed from April 15 to July 15, 2020.

17. Does the postponement provide me more time to contribute money to my IRA for 2019?

Yes, contributions can be made to your IRA at any time during the year or by the due date for filing your return for that year. Because the due date for filing Federal income tax returns has been postponed to July 15, the deadline for making contributions to your IRA for 2019 is also extended to July 15, 2020.

18. If I owe the 10% additional tax on amounts includible in gross income from a distribution that I took from my IRA or workplace-based retirement plan in 2019, is the due date for paying that additional tax also extended to July 15, 2020 on account of this relief?

Yes, because the 10% additional tax is calculated, reported, and paid at the same time as the income tax owed on the amounts includible in gross income on the distribution, the reporting and payment of the 10% additional tax also has been extended to July 15, 2020 as a result of this relief.

19. I made excess elective deferrals to my workplace-based retirement plan in 2019.  Do I have to take those excess deferrals (and income) out of the retirement plan no later than April 15, 2020, in order to exclude the distributions from income?

Yes, because that date is not also extended.

20. For employers with a federal income tax return due date of April 15, 2020, is the end of the grace period to make contributions to their qualified retirement plans on account of 2019 also July 15, 2020?

Yes, the end of the grace period for these employers is also July 15, 2020.  So, for example, if an employer is a corporation with an April 15, 2020 due date for filing the Form 1120, then the grace period for the employer to make contributions to its workplace-based retirement plan that are treated as made on account of 2019 ends on July 15, 2020.

21. Does this provide me more time to contribute money to my HSA or Archer MSA for 2019?

Yes, contributions may be made to your HSA or Archer MSA at any time during the year or by the due date for filing your return for that year. Because the due date for filing Federal income tax returns is now July 15, 2020, you may make contributions to your HSA or Archer MSA for 2019 at any time up to July 15, 2020.

22. I want to file a claim for a refund for 2016, which must be filed by April 15, 2020 to be timely. Do I get more time to claim my 2016 refund?

No, it only applies to Federal income tax returns for the 2019 taxable year.

23. Is the time for filing Form 4466 (Corporation Application for Quick Refund of Overpayment of Estimated Tax) postponed?

No, the time for filing Form 4466 is not postponed. However, you may request your refund by filing your income tax return.

24. I failed to make the required installments of estimated tax in the required amounts during 2019 for my 2019 taxable year. Does this relief apply to an estimated tax penalty for 2019?

No, the estimated tax requirements or estimated tax penalty for 2019 do not change. Relief from the penalty may be available under the normal rules.

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