Tax
Internal Revenue Service Expands Tax Relief
March 23, 2020
Following a weekend announcement of expanded tax relief in response to the COVID-19 crisis, the Internal Revenue Service (“IRS”) has now clarified and expanded relief regarding tax payments and return due dates.
IRS Notice 2020-18 postpones until July 15, 2020, the date for filing any federal income tax return or federal income tax payment that would otherwise be due on April 15th. This includes individual, business entity and trust returns. There is no requirement to file a request for an extension. The IRS emphasizes that the relief is available solely with respect to:
- Federal income tax payments (including payments of self-employment tax) otherwise due on April 15, 2020;
- Federal income tax returns otherwise due on April 15, 2020, with respect to the 2019 taxable year;
- Federal estimated income tax payments (including payments of tax on self-employment income) otherwise due on April 15, 2020, with respect to the 2020 taxable year.
For more information on this topic or other labor law matters, please contact Otto S. Shill or another member of the Tax, Estate Planning, and Employee Benefits Practice Group.
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Otto S. Shill | Read Bio
About Jennings, Strouss & Salmon, P.L.C.
For over 75 years, Jennings Strouss has been dedicated to providing clients with strategic legal guidance to help them seize every opportunity. The firm is well-known for its rich heritage, commitment to community, and long-lasting relationships. We have a deep understanding of business and law. When you work with us, you’ll have a team of legal experts who are dedicated to your vision of success.
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