Keeping you current with the IRS.
Federal Filing and
When do I have to file?
Affected taxpayers with an original tax filing deadline of 04/15/2020 to file a federal income tax return will now have an automatic extension of time to file until 07/15/2020. No form needs to be filed to receive this automatic extension.
The filing extension also provides an extended amount of time to make IRA contributions and Health Savings Account contributions until 07/15/20.
Affected taxpayers include individuals filing series 1040 forms, individuals filing Form 709 gift tax returns, trusts and estates filing Form 1041, Corporations filing series 1120 forms (if their original due date is 04/15), and Partnerships filing form 1065 (if their original due date is 04/15).
Affected taxpayers do not include S Corporations with a filing deadline of 03/15 or Partnerships with a filing deadline of 03/15. They also do not include fiscal year filers whose deadline is a date other than 04/15.
The extension does not apply to informational returns or excise tax returns.
This is a federal extension of time to file and it will be up to each individual state to determine what, if any, relief they want to provide to state taxpayers.
Taxpayers needing additional time to should file extension form 4868 or 7004 no later than 07/15/20 to be granted a filing deadline of 10/15/20. Back to Top
When do I have to pay?
Affected taxpayers (see above) have also been granted an automatic extension of time to make certain tax payments. If your payment has already been set up for direct withdrawal and you want to cancel it, you can call 1-888-353-4537 at least 2 days prior to the payment date.
Payments of federal income tax for tax year 2019 with an original due date of 04/15 may be postponed until 07/15. Interest and penalties will not begin to accrue until 07/16/20.
Please Note: If taxpayers were required to make quarterly estimated tax payments during tax year 2019 and did not timely do so, penalties for failure-to-make-estimated payments will still be applied with interest.
Taxpayers who are required to make quarterly estimated tax payments for tax year 2020 with the first payment being due 04/15 will have additional time to make these estimated payments. The new deadlines for the 2020 estimated payments are as follows: 06/15/20, 07/15/20, 09/15/20, and 01/15/21.
No postponement has been granted for payroll taxes, excise taxes, income taxes with an original due date other than 04/15/20, or any other federal tax. This is a federal extension of time to pay and it will be up to each individual state to determine what, if any, relief they want to provide to state taxpayers. Back to Top
Payments on IRS Installment agreements can be suspended between the dates of 04/01/2020 and 07/15/20. This suspension can apply to installments being paid by check and to installments being paid by automatic debit. We do not know yet whether this will be an automatic suspension or if taxpayers have to request it. We will update you as guidance is made available.
Between 04/01/2020 and 07/15/2020 installment agreements will not be defaulted by the IRS, meaning agreements will not be terminated for failure to pay. Back to Top
Suspensions to other IRS activities.
Offers in Compromise - No pending OIC's will be completed prior to 07/15/20. Taxpayers will be allowed to defer payments on accepted OIC's until 07/15/20 but interest will continue to accrue.
Collections - Enforcement actions will be suspended until 07/15/20. This includes new liens and levies and assignments to private debt collectors.
Audits and Exams - No new audits will be started until 07/15/20 unless it is necessary to protect the statute of limitations. Existing audits may be continued remotely where possible.
Appeals - The Appeals system will function normally.
Notices of Deficiency - These notices will continue to be sent out to protect the statute of limitations. Back to Top