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COVID-19 Update: Fed & State Tax Deadlines

(posted: March 19th, 2020)

UPDATE 3/23/2020: The IRS has now moved the tax return filing deadline for individuals and businesses from April 15 to July 15.

The IRS has issued official guidance clarifying that the 90-day extension for payment of taxes does not apply to the March 15 or April 15 filing deadlines. This means that even though the actual tax payment has been deferred until July 15, 2020, for most taxpayers, they must still file a timely extension request to avoid the late-filing penalty (or, in the case of the missed March 15 filing deadline, request penalty abatement if late-filing penalties are imposed). We have already filed March 15 extensions and will file extensions for April 15.

Any person with a federal income tax payment due April 15, 2020, who is affected by the COVID-19 emergency is eligible for the following relief:

  • Deferral of up to $1 million in aggregate for all taxpayers other than C corporations, regardless of filing status (so the $1 million limit applies to joint filers); or
  • Deferral of up to $10 million in aggregate for C corporations (the $10 million limit applies at the consolidated group level if the corporation is part of a consolidated group).

The relief only applies to:

  • 2019 income tax payments due on April 15, 2020 (including self-employment taxes); and
  • The April 15, 2020, estimated income tax payment due on April 15, 2020, for the 2020 taxable year (including self-employment taxes).

California has conformed to the Federal due date of July 15. Other states, but not all, are conforming to the Federal due date. As of this date, there is not a complete list of which states are conforming and which are not.

San Francisco issued an emergency proclamation that waives the filing and payment of first quarter business taxes for businesses with gross receipts of $10 million or less for 2019. This applies to the Gross Receipts, Payroll Expense, Early Care and Education Commercial Rents, and Homelessness Gross Receipts taxes. The first quarter payment will be due when you file your 2020 business tax return.

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