IRS Broadens Tax Return Filing in Response to COVID-19

The IRS has significantly broadened its tax return filing and payment relief in response to COVID-19. According to Notice 2020-23, nearly all taxpayers with a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020, will now have until July 15, 2020 to file returns and make payments without penalties or interest. In a prior notice, deadlines were only extended for tax forms and payments due April 15, 2020.

The expanded relief applies to individuals, partnerships, corporations, estates, and other non-corporate tax filers, including fiscal-year filers. In addition, the notice applies to estimated tax payments previously due June 15 as well as time deadlines related to like-kind exchanges and opportunity zone-related actions. The delay of these deadlines is automatic, thus taxpayers need not file for extensions.

Notice 2020-23 supersedes prior guidance and provides relief for a list of “time-sensitive actions,” effectively postponing the deadline to July 15 for most actions that had been required to be taken from April 1 through July 14. This includes filing relief with respect to some forms not specifically identified in the notice, such as Forms 990 (tax-exempt organizations) and 4466 (corporation application for “quick refund” of estimated tax overpayments).

Taxpayers who have scheduled payments for April 15 have until midnight tonight (i.e. 11:59 p.m. April 13, 2020) to reschedule/delay their payment. For more detail on affected tax forms, see pp. 3-7 of Notice 2020-23.