Payment Due Dates Extended for Balance Due Notices

The IRS is extending the payment due dates for taxpayers that receive printed balance due notices due to IRS office closures from the Coronavirus pandemic.  When the notices are mailed in the next few weeks, taxpayers will receive an insert with the extended due date.

According to the IRS insert:

If the amount due on the notice is for an income, gift, estate, or Form 990-PF or Form 4720 excise tax return that was due on or after April 1, 2020 and before July 15, 2020, (such as a Form 1040 normally due April 15, 2020), the Treasury Department and the IRS postponed the deadline for making the payment to July 15, 2020. If the amount due (as provided on the notice) is not paid by July 15, 2020, penalty and interest will begin to accrue after July 15, 2020. To avoid penalty and interest, pay the amount due by July 15, 2020.

If the amount due on the notice is for a return that was due before April 1, 2020, or an employment or excise tax return due on or after April 1, 2020, the taxpayer will not be charged additional penalty or interest if they pay the amount due (provided on the notice) by July 10, 2020.

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