COVID-19 Update #5: IRS Releases Additional Guidance on Extensions and Tax Payments

April 10, 2020

Yesterday, the Internal Revenue Service issued Notice 2020-23, providing additional guidance on tax relief measures for the 2019 and 2020 tax filing and payment deadlines. Specifically, Notice 2020-23 provides:

  • Any tax return filing or payment obligation due between April 1st, 2020, and July 15th, 2020, is automatically extended to July 15th, 2020. 
  • This applies to tax filings and payments for Form 1040, 1040-NR, 1120, 1120-S, 1065, 1041, 706, 709, 990-T, 990-PF
  • Second quarter estimated tax payments that were originally due June 15th are now due July 15th. 
  • Penalties and interest on 2019 or 2020 tax payments deferred until July 15th will begin to accrue on July 16th. 

While the Federal payment and filing deadlines have been delayed until July 15th, we are still encouraging our clients to send us their tax documents as soon as possible, even if not complete, so that we can continue to process your tax returns in a timely manner. Your documents can be uploaded to the client portal at https://topelforman.com/client-portal/. If you are having trouble accessing your portal, please contact portalsupport@topelforman.com for additional assistance.

Please do not hesitate to reach out with any questions or concerns. Be safe and continued wishes for good health.

Topel Forman LLC