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The IRS moved the national income tax filing day ahead to July 15, three months after the normal deadline for Americans to send in their returns, in an effort to stem the financial pain from the coronavirus pandemic.

This relief includes:

Individuals: Income tax payment and filing deadlines for individual returns, with a due date of April 15, 2020, are being automatically extended until July 15, 2020, for up to $1 million of their 2019 tax due. This payment and filing extension relief applies to all individual returns, including self-employed individuals, and all entities other than C-Corporations, such as trusts or estates. IRS will automatically provide this relief to taxpayers. Taxpayers do not need to file any additional forms or call the IRS to qualify for this relief. This relief also includes 1st and 2nd estimated tax payments for the tax year 2020, normally due April 15 and June 15, 2020.

Corporations: For C Corporations, income tax payment and filing deadlines are being automatically extended until July 15, 2020, for up to $10 million of their 2019 tax due.

This relief also includes estimated tax payments for tax year 2020 that are due on April 15, 2020.

California: The Franchise Tax Board is postponing until July 15 the filing and payment deadlines for all individuals and business entities for:

  • 2019 tax returns
  • 2019 tax return payments
  • 2020 1st and 2nd quarter estimate payments
  • 2020 LLC taxes and fees
  • 2020 Non-wage withholding payments

To give taxpayers a deadline consistent with that of the Internal Revenue Service (IRS) without the federal dollar limitations, FTB is following the federal relief described in Notice 2020-17PDF Download. Since California conforms to the underlying code sections that grant tax postponements for emergencies, FTB is extending the relief to all California taxpayers. Taxpayers do not need to claim any special treatment or call FTB to qualify for this relief.

Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020. The IRS encourages though who might be due a refund to file as soon as possible, so their refunds can be processed.

If you have questions about your return and the filing timeline, please reach out to your Linkenheimer CPA. While our office remains open, the health and safety of our staff and clients remain a top priority. At this time, the majority of our staff are currently working from home, which means the best means for contact is via email. If you would like to arrange a video call with your CPA, we can accommodate that as well. We continue to work hard to ensure your personal and business returns are filed in a timely matter and we appreciate your patience during these tumultuous times. Stay safe and healthy!