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Tax Deadlines Extended for Individuals, Trusts and More

April 10, 2020

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In March, the IRS gave taxpayers an additional two months to file and submit tax payments, moving the deadline from April 15 to July 15, 2020. Those who utilize the extension will not face penalties or interest.

Now, the IRS is extending additional tax deadlines for individuals, trusts, estates, corporations and other non-corporate entities, essentially giving any American (including those living and working abroad) until July 15, 2020, to file federal returns and pay associated taxes.

Some of the additional deadline extensions communicated in IRS Notice 2020-23 included the following:

Extensions beyond July 15

Individuals can submit Form 4868 to the IRS if they need an extension beyond July 15 to October 15, 2020. The form is available through independent tax professionals, third-party tax software or Free File via the IRS website. Even if requesting an extension for filing, individuals should still remit payment for their estimated tax liabilities by the July 15, 2020, deadline.

Businesses need to file Form 7004 with the IRS if they need an extension beyond July 15 to file their returns. However, businesses still must pay any taxes owed by July 15, 2020, even if requesting additional time to file.

Estimated Tax Payments

 Individuals or corporations that have quarterly estimated tax payments due between April 1-July 15, 2020, are now able to delay payment until July 15, 2020. They will not face penalties for the delay.

2016 Unclaimed Refunds

Taxpayers seeking a refund on their 2016 tax returns have a deadline extension: the April 15, 2020, deadline is extended to July 15. This marks the end of the window for 2016 refunds; the law gives taxpayers three years after the filing year to claim a refund. Taxpayers filing for 2016 refunds must properly address and postmark their tax returns by July 15, 2020.

For More Information

The IRS is currently unable to provide telephone support for taxpayers. They encourage taxpayers to visit IRS.gov for 24/7 assistance; if you’ve already requested a refund, you can check the status at IRS.gov/Refunds.

 Reach out to your CSH advisor if you need help preparing or submitting any of the forms mentioned here.

All content provided in this article is for informational purposes only. Matters discussed in this article are subject to change. For up-to-date information on this subject please contact a Clark Schaefer Hackett professional. Clark Schaefer Hackett will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

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