Richard Tullier, CPA and Senior Manager in our Tax Department, provides an update to the recent IRS April 15 tax delay, for COVID-19 emergency relief:
On March 20, 2020, the Department of the Treasury expanded relief for federal taxpayers affected by “ongoing Coronavirus disease 2019 pandemic.” Now, the due date for federal income tax returns and payments is July 15, 2020. There are no penalties or interest, and there are no dollar limitations. This governs income and self-employment taxes related to tax year 2019 or 2020 owed on April 15, 2020; it covers federal taxpayers, which includes individuals, trusts, estates, partnerships, associations, companies, or corporations.
In summary, the payment and filing deadlines, regardless of taxes owed, are extended from April 15 to July 15 for any federal taxpayer.
Please contact us with questions.