IRS Extends Some April 15th Filing Deadlines

In a news release, the IRS and Treasury Department announced an extension of the April 15th deadline to May 17th for the filing of 2020 individual income tax returns and the associated tax payments.

Some important takeaways:

• The IRS specifically stated that this does not extend first quarter estimated payments which will continue to be due April 15th.

• No mention was made regarding other types of filings that are due April 15th such as most trusts, gift tax returns or C Corporation returns.

The IRS noted that they will be issuing further guidance shortly. Also, keep in mind that the IRS announcement does not impact most state filing deadlines. Given these uncertainties we request that you continue to provide us your tax return information in a timely fashion. If you have any questions, please contact your Anchin Relationship Partner.