The IRS has just announced that additional tax return filing and payment deadlines have been extended.
All taxpayers who have a tax return or tax payment due on or after April 1, 2020 and before July 15, 2020 have until July 15, 2020 to file and pay without penalty or interest. This includes individuals, trusts, estates, corporations, non-corporate filers and Americans living and working abroad. This extension includes the estimated tax payment which is due on June 15, 2020.
An individual can request an extension of time to file until October 15, 2020 by filing Form 4868 before July 15. Businesses can do the same by filing Form 7004. This extension would not extend the time to pay.
The time to file a claim for refund for taxable year 2016 has also been extended to July 15, 2020.
Guidance has also been issued with respect to the changes made under the CARES Act with respect to the carry back of net operating losses. If this issue applies to you, and you would like additional information please reach out to me.