NEBRASKA SOCIETY OF CPAs
NEWS UPDATE
IRS.gov has a new page for COVID-19 Filing and Payment Q&A. A few of the most-asked questions are highlighted below.
Q: The Notice postpones the deadline for the first quarter 2020 estimated income tax payments due April 15, 2020. What about second quarter estimated tax payments due on June 15? Have they been postponed as well?

A: No, second quarter 2020 estimated income tax payments are still due on June 15, 2020. First quarter 2020 estimated income tax payments are postponed from April 15 to July 15, 2020.


Q: Does this relief provide me more time to contribute money to my IRA for 2019?

A: Yes. Contributions can be made to your IRA, for a particular year, at any time during the year or by the due date for filing your return for that year. Because the due date for filing federal income tax returns has been postponed to July 15, the deadline for making contributions to your IRA for 2019 is also extended to July 15, 2020. For more details on IRA contributions, see Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs) .


Q: Does this relief provide me more time to contribute to my HSA for 2019?

A: Yes. Contributions may be made to your HSA or Archer MSA, for a particular year, at any time during the year or by the due date for filing your return for that year. Because the due date for filing federal income tax returns is now July 15, 2020, under this relief, you may make contributions to your HSA or Archer MSA for 2019 at any time up to July 15, 2020. For more details on HSA or Archer MSA contributions, see Publication 969, Health Savings Accounts and other Tax-Favored Health Plans .
The Nebraska Department of Revenue has posted the following new releases on its site.
Accepted Valid Taxpayer or Authorized Taxpayer Representative Signature on Certain Forms & Documents
The Nebraska Department of Revenue (DOR) has issued new guidance with specific instructions and information regarding signature requirements which will assist taxpayers, especially in situations where the individuals responsible for signing tax returns are working from home to prevent the spread of COVID-19. For most forms and filings, for which there is no separate DOR taxpayer filing system, DOR will accept as a taxpayer signature, any mark - handwritten or digitally rendered - that is applied with actual or apparent intention to authenticate the filing.
About the July 15, 2020, State Income Tax Return & Payment Deadlines
The Governor has announced that Nebraska will provide the same income tax relief as has been granted by the IRS.