April 15th Deadline Extended Until July 15, 2020

IRS released Notice 2020-23 further expanding the federal tax filing extensions. Tax returns due on or after April 1 and before July 15 have been extended until July 15, 2020.  Both 1st and 2nd quarter estimated payments for individual are included in this extended due date.  This extension extends both the time to file and to pay for all individuals, trusts, estates, partnerships, associations, companies, and corporations with an original April 15, 2020 through July 14 due date.  Interest and penalties on tax amounts due will begin accruing on July 16, 2020.

Other types of federal returns or payments due are NOT extended.  Taxpayers should continue to file all other required returns, make their payroll tax deposits and pay all other required taxes.  Penalties and interest will continue to accrue on returns not originally due April 1, 2020 through July 14, 2020.

Taxpayers have until July 15, 2020 to make contributions to IRAs and HSAs for tax year 2019.  State filing and payment deadlines very and are not always the same as the federal filing deadline

Taxpayers will not be required to file a federal extension for income tax returns due April 15, 2020-July 14, 2020.  Taxpayers will be required to file an extension by July 15th for any tax returns not already filed at that time.  We will continue to monitor all IRS pronouncements and guidance.

Glickstein Laval Carris and staff are continuing to work to provide you timely information, guidance, and tax returns.Please call or e-mail regarding any questions you may have.