On Friday, March 20th the IRS announced that tax returns due April 15th will not have to be filed until July 15, 2020. Issued by the Treasury Department, this postponement applies to and individual, trust, estate, partnership association or corporation with a Federal tax return or income tax payment due date on April 15, 2020. An extension is not required to be filed to receive this relief.
Under the notice, the Treasury Department indicated no interest, penalty, or additional tax for failure to file a Federal income tax return or to pay Federal income taxes will accrue between April 15, 2020 and July 15, 2020 for any return or payment postponed by the notice. Note that this notice does not apply to 2020 employment tax returns or employment tax payments due.
Rusk & Company is monitoring developments and will keep you updated regarding additional pronouncements.