Mark Puckett, CPA
Federal Income Tax Payment and Tax Return Filing Postponement
IRS Notice 2020-17 has been updated and superseded by Notice 2020-18. Notice 2020-18 does two things:
It conforms the PAYMENT postponement with the TAX RETURN FILING postponement. Now, BOTH payments and the related tax returns due April 15th are postponed until July 15, 2020.
It also removes the tax postponement limitation thresholds previously set forth in Notice 2020-17. Now, there is NO LIMITATION or cap on the amount of tax liabilities that can be deferred.
The IRS makes it clear that the relief is available solely with respect to Federal Income tax amounts owed (2019 tax balances due and first quarter estimated tax payments) and Federal Income Tax returns.
There is NO extension or postponement for the payment or deposit of any other type of Federal tax, or the filing of any Federal information return.
Please reach out to your ATA office for further details or visit our COVID-19 resource page for more information.