Here is a recap on the latest information on federal and state filing and payment extensions. “New” information is highlighted as such in this communication. Of note, the IRS announced this weekend that any payment amount can now also be deferred. 继续阅读更多细节.
美国.S. Treasury announced on March 20 that they are moving the due date for federal income tax returns due on April 15, 2020, 到7月15日, 2020. 财政部长史蒂文·努钦(Steven Mnuchin)说, “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.”
Taxpayers are still required to file income tax returns or an automatic filing extension by July 15. The automatic filing extension (Form 4868) gives taxpayers until October 15. The guidance is unclear when the extension form should be filed if a taxpayer won’t have all necessary information to file a complete return by July 15. We are monitoring this and will update as more information is available.
- 任何金额都可以延期支付 (新)
There is no limitation on the amount of the payment that may be postponed. 以前, the IRS had announced dollar limits on the tax deferrals for individuals and corporations. This was revised on March 21 and indicates that taxpayers can postpone payments “regardless of the amount owed.”
Taxpayers do not need to file any additional forms to qualify for the tax payment deferral.
The due date is postponed only for federal income tax payments for 2019 normally due on April 15, 2020, and federal estimated income tax payments (including estimated payments on self-employment income) due on April 15, 2020, 2020纳税年度.
从今天早上开始, the IRS hasn’t provided a payment extension for the payment or deposit of other types of federal tax (including payroll taxes and excise taxes).
- IRS urges taxpayers who are owed a refund to file as quickly as possible.
- If you file your tax return or request an extension of time to file by July 15, you will automatically avoid interest and penalties on the taxes paid by July 15.
- Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020.
- Each state is addressing its own tax filing and payment extensions.
- 除了扩大所得税申报, some states have offered relief of sales and use tax payments and filings.
- We will continue to monitor state announcements and any changing due dates.
- AICPA也在进行更新 图表 as information becomes available from various states
To date, the following states have issued guidance on changes to income tax filings and payments:
|Colorado, Georgia, Massachusetts, Michigan, Ohio, Oregon
- State treasury departments have said they will mirror IRS guidance; however, 目前还没有官方声明.
- Department of Revenue will offer flexibility on the deadlines of taxes due, 包括企业所得税和销售税.
- Some corporate income taxes can be deferred until the end of the fiscal year.
- Estates with returns due between March 16-April 15 will receive a 30-day extension for filing and payment; however, 法定利息将会产生.
- 个人及公司报税表, 申请和支付, 包括估计税款, 7月15日截止.
- If the original due date was May 15, the extension is through August 15.
- Filing and payments due July 31 for all returns due between March 18-July 31, 不包括估计的税款.
- 堪萨斯 estimated tax payments for first quarter of 2020 due on April 15 are not deferred and need to be paid by April 15 to avoid penalties.
- Payment extension for individuals and businesses (expect this to update and include filing extension).
- Filing and payments extended until June 1 for individuals and corporate taxpayers.
- Individual 申请和支付 extended until July 15.
- Additional states will likely be adjusting due dates.
We will continue to keep you informed as new information becomes available. For additional information and applicability to your tax situation, we recommend 咨询 with your AGH tax advisor or 肖恩·沙利文 using the information below.
NOTE: Any advice contained in this material is not intended or written to be tax advice, 而且也不可靠, nor can it be used for the purpose of avoiding tax penalties that may be imposed by the IRS or states, 或促进, marketing or recommending to another party any transaction or matter addressed herein.
Shawn leads the firm’s tax group and serves on AGH’s board of directors. In addition to enhancing business performance to minimize tax consequences, he has extensive experience in mergers and acquisitions, 国际税收和业务结构. Shawn has public and private experience in the fields of tax and accounting and works frequently with clients in the manufacturing, 汽车, 批发销售, real estate development and construction industries.
注册会计师, Shawn is a member of the American Institute of Certified Public Accountants, the 堪萨斯 Society of Certified Public Accountants (KSCPA) and chairs the KSCPA Committee on Taxation.