Coronavirus (COVID-19) Update 03/24/2020
Coronavirus (COVID-19) Update 03/24/2020
After a deluge of comments from the public, we now have conformity (mostly).
The IRS announced that both the tax payment due dates AND the filing dates for tax returns have been pushed back to July 15. This means that for 2019 tax filings and 2020 estimated tax payments that were normally due on 4/15/2020, you have until July 15, 2020 to file and pay. The extension is automatic, you need do nothing to get the special treatment.
What they did not say is if this extension also applies to 2020 estimated tax payments normally due on 6/15/2020. The notices also did not include fiscal year businesses that have a final extended due date of 4/15/2020, or other filings such as form 706. Our assumption is that these payments and filings are still due on their original respective dates.
In California, the Franchise tax Board also announced that they are conforming to the July 15 date for filing and payments, same as the Feds. Where California differs is that the FTB specifically included 2020 estimated tax payments due on June 15, 2020 as well.
We will keep updating our website with additional details as the government rolls out their attempts to mitigate the financial crisis.