IRS Provides 90-Day Extensions for Federal Tax Filing

The IRS has announced that the due date for filing federal income tax returns has been automatically extended from 4/15/20 to 7/15/20. Taxpayers also can defer federal income tax payments due on 4/15/20 to 7/15/20 without penalties and interest regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations, and other non-corporate tax filers, as well as those who pay self-employment tax. Taxpayers do not need to file additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individuals who need additional time to file beyond the 7/15/20 deadline can request an extension by filing Form 4868. Businesses that need additional time must file Form 7004 . The IRS urges taxpayers who are due a refund to file as soon as possible. Notice 2020-17, which only provided a 90-day tax payment extension, has been superseded. Notice 2020-18 and News Release IR 2020-58.