On Spidell’s April 9, 2020 news/flash e-mail, there was a Note stating that “Even though calendar-year partnerships and S corporation returns are due March 15, 2020, they are specifically listed in the Notice as having an extension until July 15,2020” – as per IRS notice 2020-23. This was also mentioned in the Caltax seminar I attended. I also checked IRS Notice 2020-23 and on page 4 it did list partnerships and S-corporations extended through July 15, 2020.
Was there a subsequent IRS correction or amendment on this? All the postings I see on the Message Board indicates that there was no such extension.
Notice 2020-23 states any Federal tax payments or Federal tax return which is due (originally or pursuant to a valid extension) on or after April 1, 2020 is covered. While it does list calendar year and fiscal year partnerships, the original due date of the calendar year partnership return was March 16, 2020, therefore this extension provision does not apply to Form 1065.
I have two calendar year partnerships that I found out about in June 2020 (the client never told me about these new partnerships) and quickly filed the returns before July 15th. I just received IRS notices for both of them for late filing penalties. Apparently the IRS contends notice 2020-23 does not apply to calendar year partnerships.