To our Clients and Friends:
On Friday, March 20, 2020, the IRS issued Notice 2020-18, which expands upon the relief previously granted as part of Notice 2020-17 released earlier in the week. The notice supersedes Notice 2020-17 and provides for the following:
- The due date for filing Federal income tax returns and making Federal income tax payments due on April 15 for Affected Taxpayers is automatically extended until July 15.
- The notice defines an Affected Taxpayer as an individual, trust, estate, partnership, association, company or corporation.
- In a change from the previously issued guidance, the relief is granted regardless of the amount of payment due.
- The extension also applies to Federal estimated tax payments due on April 15.
- The notice only provides relief for Federal income tax returns and Federal income tax payments. No extension is provided for the payment of any other type of Federal tax or filing of Federal informational returns.
What about Individual State Guidance
?
- As states issue their own formal guidance in response to this change, we will continue to update you.
