UPDATE – COVID-19 Pandemic Tax Filing and Payment Relief

This morning, the U.S. Treasury and the Internal Revenue Service released Notice 2020-18 extending the filing and payment deadline from April 15, 2020, to July 15, 2020. This notice replaces Notice 2020-17.

The Notice has removed all of the payment limitations. It is also a blanket extension for all federal income taxes, including self-employment taxes.

The Treasury Secretary has encouraged taxpayers who may have refunds to continue working towards filing their returns in order to access the refunds.

In addition to the federal extension, many states have also followed suit. As of March 19, 2020, the following states have provided filing and/or payment relief: California, Connecticut, Indiana, Iowa, Maryland, North Carolina, Oregon and South Carolina. We expect future state updates.

In this time of unprecedented changes, at Weaver, we remain vigilant in serving our clients and monitoring the changing deadlines and filing requirements. Our tax team has the ability to work remotely even during local and national movement restrictions, and we are here assisting our tax clients with meeting their filing obligations and choices.

If you have questions or need advice on your specific situation, please contact us. We are here to help.

© 2020