The Department of the Treasury and the Internal Revenue Service (IRS) postponed filing and tax payment deadlines for individuals, businesses, trusts, and estates in a series of notices published over the past few weeks.
The notices directly affect the deadlines for filing and paying income tax, estate tax, gift tax, and generation-skipping transfer tax.
IRS Notice 2020-18 provided relief for individual federal income tax return filing and payments due on April 15, 2020. Individual taxpayers must file and pay federal income taxes by July 15, 2020, to avoid accruing interest or penalties on unpaid federal income taxes for the 2019 tax year.
Continue Reading Treasury and IRS Extend Tax Deadlines for Individuals, Businesses, Trusts, and Estates