UPDATED – EXTENDED TAX FILING DEADLINES

As a friendly reminder we are continuing to service all of your assurance, tax and wealth needs – especially so during this period of uncertainty. If you have not yet submitted your tax documents to us, we encourage you to get started by using our client portal.

We are available to assist you with our online tools and look forward to remaining connected to you remotely by phone, email and video conferences. We are right here with you.

 

Extended Federal Tax Filing Deadlines

Traditionally, April 15th is a really big deal for accountants – not this year. Most federal and state tax filing deadlines have been extended in response to the COVID-19 pandemic, including some dates that have changed more than once during recent weeks.

 

Individual Tax Returns
July 15, 2020 Individual Tax Returns Due for Tax Year 2019
First & Second Quarter 2020 Estimated Tax Payments
IRA Contributions for Tax Year 2019
September 15, 2020 Third Quarter 2020 Estimated Tax Payment
October 15, 2020 Extended Individual Tax Returns Due for Tax Year 2019
January 15, 2021 Fourth Quarter 2020 Estimated Tax Payments

 

Business Tax Returns, Including Partnerships, Corporations, Trusts & Estates
July 15, 2020 Business Tax Returns Due for Tax Year 2019
First & Second Quarter 2020 Estimated Tax Payments
September 15, 2020 Extended Tax Returns Due for Partnerships and S-Corporations
Third Quarter 2020 Estimated Tax Payment Due
October 15, 2020 Extended Business Tax Returns Due for Tax Year 2019
December 15, 2020 Fourth Quarter 2020 Estimated Tax Payment Due

 

Estate & Gift Tax Returns
July 15, 2020 Estate & Gift Tax Returns
Generation Skipping Transfer Tax Payments

 

Exempt Organizations & Private Foundations
May 15, 2020 Organizations Exempt from Income Tax
July 15, 2020 Exempt Organization Business Income Tax Returns
Private Foundation Returns
Estimated Tax on Unrelated Business Taxable Income
Excise Tax Returns

 

Extended California Tax Filing Deadlines

Like the IRS extensions, the California Franchise Tax Bureau (FTB) has postponed until July 15, 2020 the filing and payment deadlines for all individuals, trusts, and business entities for the following tax returns and payments:

  • 2019 Tax Returns & Payments
  • 2020 First & Second Quarter Estimated Payments
  • 2020 LLC Taxes & Fees
  • 2020 Non-Wage Withholding Payments

Note: Each state has its own rules on filing deadlines, and not all states have conformed to the IRS extended tax deadlines. Please reach out to us for guidance related to filing deadlines in other states.

 

What About Interest and Penalties?

The IRS will disregard the period beginning on April 1, 2020 and ending on July 15, 2020 when calculating the interest and penalties for failure to pay or file forms. Interest and penalties will begin to accrue on July 16, 2020.

 

What About Special Forms and Schedules?

The IRS has extended to July 15, 2020 all forms and schedules that are required to be filed with income tax returns, including household employment tax, self-employment tax and foreign reporting forms.

Note: Foreign Bank Account Reports (FBARs) are now due on October 15, 2020.

 

What About Payroll Tax Returns?NOTE: This notice does not change the due date of payments or filings for payroll tax returns and certain other non-income tax returns.NOTE: This notice does not change the due date of payments or filings for payroll tax returns and certain other non-income tax returns.

Important: The IRS has not extended the due date of payments or filings and certain non-income tax returns. We continue to monitor any changes to these deadlines.

 

We will continue to provide guidance as additional updates are released.