Dear Clients and Friends,
The Treasury Department and Internal Revenue Service announced that the 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Federal income taxes on April 15, 2020, are automatically extended until July 15, 2020. This relief applies to all individual returns, trusts, and corporations. Taxpayers do not need to file any additional forms to qualify.
Note this also includes estimated tax payments for tax year 2020 that are traditionally due on April 15, 2020. All estimated tax payments normally paid through September 15, 2020 are now collectively due on October 15, 2020.
Taxpayers who need additional time to file beyond the July 15th deadline can request a filing extension. Taxpayers who are expecting refunds are strongly encouraged to file as soon as possible.
This relief only applies to Federal income returns. State filing and payment deadlines vary by state. While most are expected to follow the Federal guidelines, taxpayers can check with their state tax agencies for those details. More information is available at https://www.taxadmin.org/state-tax-agencies.
All of us at CJBS continue to adapt and monitor developments during this unprecedented time. Please continue to take care of yourself, your family, and your business. If you have any additional questions, please email us.