UPDATE: Federal tax deadline moved to July 15, 2020!
It’s official! The IRS has provided additional information regarding the 90-day extension for the filing of 2019 tax returns and related payment of taxes. Access details from the IRS below:
The details:
The filing and payment extension applies to tax balances due for 2019 and estimated tax payments for 2020 due April 15, 2020. The May 15, 2020, tax deadline for not-for-profits has also been extended.
Limitations:
While this is certainly good news, we need to be mindful of the limitations. For example:
Some states have enacted an actual extension and some will follow the IRS.
Below are updates from select states:
For details on other state tax filing extensions, click here.
Please contact your BerryDunn tax consultant if you have any questions.