Further IRS Clarification On Tax Deadlines

March 25, 2020 | News | 2 minute read

(Last updated March 25, 2020)

On March 24, 2020, the IRS published further guidance relating to Notice 2020-18.  Filing and Payment Deadlines Questions and Answers, linked here.

The update provides answers to 24 frequently asked questions.  The new information is primarily taxpayer-friendly, but some guidance was unexpected.  Specifically, individual taxpayers should be aware of the following two limitations:

  • If a taxpayer files a timely extension, then the extension is only valid for 3 months (not the usual 6 months).  Q&A #12.
  • Second quarter estimated tax payments are not postponed (i.e., they are still due on June 15th).  Q&A #16.

The IRS intends to update the FAQ list periodically.  Our firm will continue to monitor and provide you with important tax updates.

Ashley McMillanBob BottsBruce Hendrick
Catherine Bright Haws