IRS Response

Updated March 20, 2020

Tax due dates HAVE been extended. Tax payments HAVE been extended.

March 16, 2020

  • Form 1065 due (can be extended to September 15, 2020)

  • Form 1120S due (can be extended to September 15, 2020)

July 15, 2020​

  • Form 1040 due (can be extended to October 15, 2020)

  • Form 1040 – tax liability due

  • Form 1120 due (can be extended to October 15, 2020)

  • Form 1120 – tax liability due


NEWS UPDATES

March 20, 2020

IR-2020-57

The US Treasury and IRS announced plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave. https://www.irs.gov/newsroom/treasury-irs-and-labor-announce-plan-to-implement-coronavirus-related-paid-leave-for-workers-and-tax-credits-for-small-and-midsize-businesses-to-swiftly-recover-the-cost-of-providing-coronavirus

IRS Notice 2020-18

The US Treasury Department and IRS issued guidance automatically postponing the April 15, 2020 federal tax deadline to July 15, 2020. Taxpayers do not have to file Forms 4868 or 7004. There is no limitation on the amount of the payment that may be postponed. https://www.irs.gov/pub/irs-drop/n-20-18.pdf

March 18, 2020

IRS Notice 2020-17, superceded by IRS Notice 2020-18

https://www.irs.gov/pub/irs-drop/n-20-17.pdf

March 13, 2020

In a bi-partisan letter to the IRS, congressman Josh Gottheimer and Paul Mitchell are calling on the IRS to push back its tax filing deadline in response to the coronavirus pandemic. “We are writing today to request that the Internal Revenue Service (IRS) extend the deadline for tax filings for individual and business files by ninety days, from the current date of April 15, 2020, until June 15, 2020.” they wrote. https://thehill.com/homenews/house/487518-lawmakers-call-on-irs-to-push-back-tax-filing-deadline-in-response-to


Resources:

IRS response - https://www.irs.gov/coronavirus

US Treasury response - https://home.treasury.gov/coronavirus

 

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