Income Tax Payments Due April 15 Can Be Deferred to July 15, Regardless of Amount

美国国税局和美国国税局.S. Treasury Department have been making a series of announcements to provide tax relief in the wake of the coronavirus (COVID-19) p和emic. After previously announcing that taxpayers could defer making federal income tax payments up to certain limits for three months, the IRS has now announced that taxpayers can postpone payments without penalties or interest “regardless of the amount.”

Filing 和 payment extension

According to new Notice 2020-18, any person with a federal income tax return or payment due on April 15, 2020, 截止到7月15日, 2020, to file a return or make a payment. 具体地说, a “person” includes an individual taxpayer, 信任, 房地产, 伙伴关系, 协会, 公司或法人. Taxpayers can defer payment of federal income tax (including any self-employment tax) owed for the 2019 tax year from the normal April 15 deadline until July 15. They can also defer their initial quarterly estimated federal income tax payments for the 2020 tax year (including any self-employment tax) from the normal April 15 deadline until July 15.

Previously, the IRS had issued guidance (in Notice 2020-17) stating that corporations could postpone tax payments up to $10 million 和 all other taxpayers could postpone payments up to $1 million without penalties or interest. 在通知2020-18中, the IRS now states: “There is no limitation on the amount of the payment that may be postponed.”

Taxpayers don’t need to file any additional forms to qualify for this automatic federal tax filing 和 payment relief. 但, 如果你需要退款, you probably still want to file your income tax return as soon as possible so you can receive your money. The IRS stated that “most tax refunds are still being issued within 21 days.”

Tax Filing Deadline Extensions from the States

Individual states are also announcing tax relief measures for their residents. A list of individual states that announced extensions to July 15 are listed in 老葡京手机app’s 网上纳税日历.

Thanks for working with us during this challenging time. Feel free to reach out with any questions.

联系 老葡京手机app Tax Practice Director Richard Morris using our 网上联络表格 了解更多信息.

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