IRS issues written guidance on extensions - Spidell

IRS issues written guidance on extensions


The IRS has issued Notice 2020-18, which clarifies some provisions for extended returns, but leaves other questions unanswered.

Here are the questions that were answered:

  • The April 15 income tax payment deadline has been extended to July 15 for all taxpayers, not just those below the tax due thresholds previously mentioned;
  • The filing and payment extensions apply to individuals, trusts, estates, partnerships, corporations, associations, and companies;
  • The relief applies only to income tax returns and income taxes, no extension is provided for the payment or deposit of any other type of federal tax, or for the filing of any federal information return;
    • Payroll tax filings and payments are not extended by this notice; and
  • Estimates due on April 15 are extended to July 15 (there is no discussion of second quarter estimates).

There is no discussion about extensions other than the July 15 date. We assume if a taxpayer wants an extension to October 15, an extension may be filed on or before July 15.

We will continue to keep you posted as additional filing and payment information is released.

Sign up for our March 26, COVID-19 and Filing Extensions: What Tax Pros Need to Know, and get details of the Families First Coronavirus Response Act and extended tax season deadlines. Click here to register online.