COVID-19 Tax News

Please stay tuned here for updates from the IRS and other key news that affects your lives, currently.
We will be adding information to this page.

 

California updateCA changed their due date and payment date to match the IRS’.

As of March 22nd, we have a new Individual and Public Assistance declaration for the State of California due to COVID-19.
 

Other states: 

As of yesterday (3/25), there were only 3 states (CA, NC & NY) accepting the 7/15 filing date.
On Federal, since they are already giving 3 months additional time to file, the extension (which must be filed by 7/15) is only good for 3 months (until 10/15).
Due to lack of any advance notices, a number of tax software companies are still in the process of making the necessary programming changes. As such, those wishing to make a direct payment (debit)
with a date after 4/15 will probably have to wait (from what I m hearing) until the end of the week, before the tax program will accept it for electronic processing.
Lastly, unless any state accepts IRS’ filing date, their return or extension must be filed by 4/15.
The continuing disaster event started on January 20, 2020.
 
Treasury is working directly with IRS Chief Counsel to provide IRS Administrative Disaster Tax Relief for the COVID-19 Pandemic.
 
The IRC 7508A COVID-19 Relief and the latest IRS Notices detailing the IRS COVID-19 Tax Relief can be found on the IRS COVID-19 Relief webpage.
https://www.irs.gov/coronavirus
 
 
IRC 7508A – https://www.law.cornell.edu/uscode/text/26/7508A
 
 
The IRS has requested guidance from Chief Counsel as to when or if the Disaster Program Office will be providing our normal Disaster relief for any Disaster Declarations declared for the COVID-19 event.
 
We will keep you updated when we have additional information. The IRS has an FAQ page with COVID-19 answers
https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers
This  question keeps coming up- see #16
What about the 2nd quarter estimated payment. Is that postponed, as well?A16. 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.

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