The U.S. Treasury Department and IRS are providing relief to all taxpayers who have Federal income tax returns and Federal income tax payments, due on April 15, 2020, is postponed to July 15, 2020. Associated interest, additions to tax, and penalties for late filing or late payment will also be suspended until July 15, 2020 as relief on account of Coronavirus Disease 2019 (COVID-19) emergency.
Notice 2020-18 will be in IRB 2020-15, dated April 6, 2020.
The Secretary of the Treasury has determined that any person with a Federal income tax payment or a Federal income tax return due April 15, 2020, is affected by the COVID-19 emergency for purposes of relief. The term “person” includes an individual, a trust, estate, partnership, association, company or corporation, as provided in section 7701(a)(1) of the Code.
For an "Affected Taxpayer", the due date for filing Federal income tax returns and making Federal income tax payments due April 15, 2020, is automatically postponed to July 15, 2020. Affected Taxpayers do not have to file Forms 4868 or 7004. There is no limitation on the amount of the payment that may be postponed.
The relief provided is available solely with respect to Federal income tax payments (including payments of tax on self-employment income) and Federal income tax returns due on April 15, 2020, in respect of an Affected Taxpayer’s 2019 taxable year, and Federal estimated income tax payments (including payments of tax on self-employment income) due on April 15, 2020, for an Affected Taxpayer’s 2020 taxable year.
No extension is provided in this notice for the payment or deposit of any other type of Federal tax, or for the filing of any Federal information return. As a result of the postponement of the due date for filing Federal income tax returns and making Federal income tax payments, the period beginning on April 15, 2020, and ending on July 15, 2020, will be disregarded in the calculation of any interest, penalty, or addition to tax for failure to file the Federal income tax returns or to pay the Federal income taxes postponed by IRS Notice 2020-18. Interest, penalties, and additions to tax with respect to such postponed Federal income tax filings and payments will begin to accrue on July 16, 2020.
IRS Notice 2020-18 supersedes Notice 2020-17.
Comments