On March 18th, 2020 it was declared that all US taxpayers have been adversely affected by the COVID-19 pandemic and the IRS have provided “appropriate relief from tax payment deadlines”. The Notice issued by the IRS extends the payment deadline to July 15th, 2020 for individuals with tax due of less than $1m. There is no application required to be eligible for this.
This deadline is also applicable to the first estimated tax deadline that would have been due on April 15th, 2020
On March 21st, 2020 the IRS Notice was expanded to include the filing deadline. All taxpayers will now have an extension of time to file and pay through to July 15th, 2020 regardless of the amount owed.
If you are currently a client of PJD Tax, we will have filed an extension on your behalf through to October 15th.
PJD Tax are still fully operational throughout this period, however we will mostly be working remotely and are not contactable via our usual telephone lines. Please contact us by email and we will arrange a call with you privately.
You should be aware that the deadline does not apply to other federal taxes, such as gift tax.
More information can be found here – https://www.irs.gov/newsroom/tax-day-now-july-15-treasury-irs-extend-filing-deadline-and-federal-tax-payments-regardless-of-amount-owed
States have their own filing and payment deadlines, some of which have been extended. Here is a summary of the more popular state filings:
- California has pushed its tax filing and payment deadline to July 15th, waiving interest and late filing and late payment penalties.
- Massachusetts is waiving penalties and will follow federal relief to July 15th.
- New York State Tax Department, at this time, has not extended the deadline to file personal tax return.
We hope that everyone is well and are staying safe in these troubling times.