IRS Extends More Tax Deadlines

The IRS and the Treasury Department issued Notice 2020-23 which significantly broadens tax return filing and payment relief in response to COVID-19. Generally, all taxpayers, including Americans who live and work abroad, with a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020, have until July 15, 2020, to file returns and make payments without penalties or interest. The relief applies to individuals, trusts, estates, corporations, and other non-corporate tax filers, including fiscal-year filers. Taxpayers don’t need to file any forms to receive the extended deadlines.

tax cpaWhile the IRS identifies specific forms and payments that are subject to relief, the Notice also provides relief with respect to the full list of “time-sensitive actions”, effectively postponing the deadline until July 15 for most actions required to be taken by taxpayers from April 1 through July 14. This includes the time for filing all petitions with the Tax Court, or for review of a decision rendered by the Tax Court, filing a claim for credit or refund of any tax, and bringing suit upon a claim for credit or refund of any tax.

Previously, IRS Notice 2020-18 extended the deadline for calendar year tax payments for 990-T and 990-PF filers to July 15, 2020. Since Form 990 is identified in Rev. Proc 2018-58, Notice 2020-23 effectively extends the deadline for calendar year exempt organizations (including 527 political organizations) to file the Form 990 to July 15, 2020.

Specified Forms

Notice 2020-23 specifically extends the payment and filing deadlines for the following forms:

  • Form 1040 series (1040, 1040-SR, 1040-NR, 1040-NR-EZ, 1040-PR, and 1040-SS)
  • Form 1041 series (1041, 1041-N, and 1041-QFT)
  • Forms 1065 and 1066
  • Form 1120 series (1120, 1120-C, 1120-F, 1120-FSC, 1120-H, 1120-L, 1120-ND, 1120-PC, 1120-POL, 1120-REIT, 1120-RIC, 1120-S, and 1120-SF)
  • Form 706 series (706, 706-NA, 706-A, 706-QDT, 706-GS(T), 706-GS(D), and 706-GS(D-1))
  • Form 709
  • Form 8971
  • Forms 990-T, 990-PF

Filing and payment deadlines are also extended to:

  • All schedules, returns, and other forms that are filed as attachments to the specified forms
  • Elections that are made or required to be made on a timely filed specified form
  • Estimated quarterly tax payments due from April 1 through July 14 (such that second quarter payments are now also due on July 15, along with first quarter payments)

Read the IRS notice here.

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