Deferring Federal Tax Payments due to Coronavirus

We just received official notice from the IRS (Notice 2020-17) about the changes for the April 15th deadline.

When you complete your taxes, there are two steps: FILING and PAYING.  They are separate steps with separate rules.

  • FILING – You 2019 federal income tax return IS STILL DUE ON APRIL 15, 2020. Please be sure you file your tax return or an extension by 4/15/2020.

 

  • PAYING – All Federal income tax payments that would normally be due on April 15, 2020 can now be made by July 15, 2020 without penalty.  This includes the amount due on your 2019 income tax return and Q1 2020 estimated tax payments. (There are some exceptions for very large payments so read the notice if you will owe $1mm or more).

 

We expect California to conform to these dates, but no official notice has been received yet.

 

For more information, see the US Treasury Announcement

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