The April 15th Tax Filing Deadline is NOT extended, but certain taxpayers can defer paying 2019 income taxes due for 90 days without accruing interest or penalties.

On March 18th the IRS issued Notice 2020-17 postponing the April 15th tax-payment deadline for certain taxpayers. Under the Notice, individuals owing less than $1 million in 2019 Federal income taxes and corporations owing less than $10 million in 2019 Federal income taxes will have an additional 90 days, until July 15th, to pay such income taxes to the IRS. The extension also applies to any estimated taxes due on April 15th for the 2020 tax year. The April 15th tax-filing deadline, however, has not been extended. Generally, unless a taxpayer timely files an extension with the IRS (Form 4868 for individuals and form 7004 for corporations) individual and corporate tax returns are due by April 15, 2020. The Notice does not change those dates, any tax returns that are required to be filed by April 15, 2020 must still be filed by such date unless properly extended. The Notice also explicitly states that the extension does not apply to any deposits. Accordingly, a business’ payroll tax withholding and deposit obligations have not changed. Massachusetts is expected to offer a similar extension.

For more IRS information and updates, visit IRS.gov/coronavirus.