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IRS expands returns eligible for extension to July 15, 2020

On April 9, 2020, the IRS issued Notice 2020-23 expanding the list of returns that are eligible for automatic extension to July 15, 2020.  In general, this notice provides that all forms with original due dates on or after April 1 and before July 15, 2020 are now due on July 15, 2020. Additionally, the IRS has provided relief for those fiscal year filers whose extended due date is April 15, 2020. Now those filers also have the ability to receive automatic relief and file by July 15, 2020.

Notable forms that have been extended to July 15 include but are not limited to:

  1. Individual Income Form 1040, 1040NR
  2. US Corporation Income Tax Forms 1120, 1120-C, 1120-F, 1120-H
  3. US S-Corporation Income Tax Form 1120-S
  4. US Partnership Income Tax Form 1065
  5. Estate and Trust Income Tax Form 1041
  6. Estate and GST Tax Form 706
  7. Gifts and GST Tax Form 709
  8. Exempt Organization Tax Form 990, 990-T, 990-PF
  9. Foreign filings under Forms 5471, 5472, 8621, 8858, 8865, and 8938
  10. Quarterly Estimated Payments due on 4/15/2020 for Individuals, Corporations, and Estates and Trusts. This also includes any estimate due on June 15, 2020.

The IRS has also provided relief on timely filed elections stating that those elections will be considered timely filed with the Specified Form or attachment if filed on or before July 15, 2020.

It should be noted that, while the IRS has provided broad and comprehensive filing relief, not every form has been extended and some States have not conformed to the new IRS deadlines. Please consult your tax advisor regarding your specific situation.

For more information visit the IRS website at: https://www.irs.gov/newsroom/irs-extends-more-tax-deadlines-to-cover-individuals-trusts-estates-corporations-and-others