IRS Updates and Expands COVID-19 Related Guidance for Tax Filing and Tax Payment Deadlines

The Internal Revenue Service has issued Notice 2020-18 extending both the federal income tax filing deadline and the federal income tax payment due date from April 15, 2020 to July 15, 2020.  These extensions automatically apply to all taxpayers (including individuals, trusts, estates, partnerships, associations, companies, or corporations) with a federal income tax return and/or a federal income tax payment due on April 15, 2020, and taxpayers do not need to file any additional forms to receive such extensions.  For taxpayers who owe federal income taxes, there is no limit on the amount that may be postponed from April 15, 2020 to July 15, 2020, and no interest or penalties will be assessed or accrued during such extension.

PDF of the Client Alert: IRS Updates and Expands COVID-19 Related Guidance for Tax Filing and Tax Payment Deadlines