The Internal Revenue Service says it is extending additional tax deadlines for individuals and businesses.
This latest Notice 2020-23, builds on the original announcement that taxpayers have until July 15 to file and pay federal income taxes. No penalties or interest will be due for filing or paying late. The update expands the original relief to additional returns, tax payments and other actions.
The extensions now generally apply to all taxpayers who have a filing or payment deadline falling on or after April 1 and before July 15.
Individuals, trusts, estates, corporations and other non-corporate tax filers qualify for this expanded timetable. This means anyone — including those Americans who live and work abroad — can now wait until July 15 to file their 2019 federal income tax return and pay any tax due.
Further Extension Available Beyond July 15
Individual taxpayers who need additional time to file beyond the expanded July 15 deadline can request an extension to October 15 by filing Form 4868 using their tax professional, tax software or online provider. Businesses who need extra time can request their extension using Form 7004.
Remember than an extension to file past the expanded deadline of July 15 does not give an individual or business more time to pay beyond July 15. Those with estimated tax liabilities should pay any taxes owed by the July 15 deadline to avoid additional interest and penalties.
Estimated Tax Payments
Notice 2020-23 also extends relief to any estimated tax payments that would otherwise be due on June 15, 2020. Any individual or corporation that has a quarterly estimated tax payment due on or after April 1 and before July 15 can wait until July 15 to make that payment, without penalty.
Unclaimed Refunds from 2016
Normally, April 15 would be the deadline to claim a refund from 2016 tax returns. With this latest Notice, that has been extended to July 15. The law provides a three-year window of opportunity to claim a refund. If a return isn’t filed within three years, any refund money becomes property of the U.S. Treasury. Taxpayers are required to properly address and mail the return and to ensure it is postmarked by the July 15 date in order to qualify.
Assistance for Taxpayers
The IRS has closed down its telephone support lines for taxpayers due to the coronavirus pandemic. The agency says normal operations will resume “when possible.”
In the meantime the IRS website offers a variety of online tools that can help taxpayers find answers to their tax questions. Search the Interactive Tax Assistant, Tax Topics, Frequently Asked Questions, and Tax Trails to get answers to common problems. Those who have already filed can check their refund status by visiting IRS.gov/Refunds.