IRS Announces Tax Return Filing Delay

Posted Apr. 3rd 2020

The Internal Revenue Service (“IRS”) announced that tax returns due April 15, 2020, will not have to be filed until July 15 of this year.  Notice 2020-18 (“Notice”) was released shortly after Treasury Secretary Steven Mnuchin signaled a tax return filing delay on Twitter.

The IRS had previously issued Notice 2020-17 announcing a postponement of federal tax payments due April 15.  Notice 2020-18 removes the limitation on the amount of tax that can be postponed and entirely supersedes Notice 2020-17.

The new 2020-18 postponement applies to any individual, trust, estate, partnership, association, company or corporation with a federal income tax return or income tax payment due on April 15.  Any such taxpayer will receive an automatic postponement of the tax return filing deadline until July 15, 2020.  Taxpayers will not be required to file a form 4868 to receive the extension.  No interest, penalty, or additional tax for failure to file or failure to pay will accrue between April 15 and July 15 for any return or payment postponed by the notice.

The Notice applies only to federal income tax returns and payments, including self-employment tax payments, due April 15 for 2019 tax years, and to estimated income tax payments due April 15 for 2020 tax years.  A copy of the Notice can be found here.