Tax payment AND filing dates BOTH now 7/15, 1Q estimate too

[Lee B]

1 hour ago, Lynn EA USTCP in Louisiana said:

Look at the last paragraph on page 2 of Notice 2020-17.  I think it does apply to individual estimated tax payments. 

 

46 minutes ago, Lion EA said:

It applies to 1Q ES payments. I didn't see if the June ES can be extended.

Interesting, since the IRS eNews article does not mention that. I wish they would get their crap together !

[DANRVAN]

LATEST FORM AICPA:

We are calling on the Department of the Treasury to immediately give taxpayers an extension of the April 15th filing deadline — and we need your help.

Please email Treasury Secretary Steven Mnuchin today at [email protected]. To save you time, you can copy and paste this draft email:
 

Dear Sec. Mnuchin:

Treasury must act immediately by extending the April 15th filing deadline to July 15th.

Unfortunately, the important payment relief that was announced Tuesday and formalized in today’s notice does not apply to the filing of tax returns and does not reflect the real-world difficulties tax practitioners and their clients are facing.

Cities across the country are having to shut businesses down because of the coronavirus pandemic, and it is impossible for every taxpayer and their tax adviser to prepare returns in this environment.

Nearly 60% of all taxpayers turn to a tax practitioner to prepare and file their tax returns, and individual and business tax filing deadlines are fast approaching. We need immediate action.

We understand that these are uncertain and challenging times for the Treasury Department, and the CPA profession wants to help the system function well. To do that, we need payment and filing relief together.

Thank you for your work to guide the country through these difficult days.

You may also want to copy your Congressional delegation on your email. You can find your U.S. Senators’ and Representatives’ contact information at GovTrack.com.

Thank you for adding your voice to this important call for tax relief clarity.

[WITAXLADY]

must file extension if not filing taxes is how I see it...

Does anyone see from the rest of the reading - all liens currently pending/actions were also suspended?

[mcb39]

On 3/18/2020 at 8:45 AM, mcb39 said:

So, how does this affect the payment of April and June extension payments?

I meant to say Estimate Payments.

[Lion EA]

The April ES payment was specifically mentioned as moving to 15 July. The June ES payment was left out and seems to remain at 15 June.

[GLJEANNE]

18 hours ago, cbslee said:

Copied from IRS eNews:

"Corporations: For C Corporations, income tax payment 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."

There is no mention of including individual estimated payments in the automatic extension!

Those are two separate paragraphs, the April estimated taxes ARE extended.

My question now is - all the clients we've already filed who chose Direct Debit for their estimated taxes - or for their balances - what's the process if they want to cancel those and take advantage of the extension??  Do they need to contact the IRS directly for that?  We don't have any way of changing things once it's been e-filed, do we?

[Lynn EA USTCP in Louisiana]

https://www.irs.gov/payments/pay-taxes-by-electronic-funds-withdrawal

there's a section for cancellations, with the phone number for the CLIENT to call.

 

[Robbie]

So is the program going to update the payment dates for tax due 4/15 and for estimates due 4/15 and 6/15.  My clients are concerned about conserving funds as long as possible, want to file on time and want to defer payment for their tax due on 4/15 and for their estimates, as allowed by Notice 2020-17.  Seems like it would be simple to get the dates changed for these payments to the 7/15 date.  Or do I have to do paper vouchers and tell them to sit on them for four months?  That is a pain.  

[Lion EA]

So far, I think, the 6/15 estimates are still due 6/15. I've been advising my clients to use IRS's DirectPay and their state equivalent for ES payments. If they already scheduled 4/15 payments, the client has to call the IRS and state to cancel and then use DirecPay + state or paper vouchers mailed with checks.

[Robbie]

The provision also allows all individuals to postpone estimated tax payments due from the date of enactment until October 15, 2020. There is no cap on the amount of tax payments postponed, and any individual required to make estimated tax payments can take advantage of the postponement. This delay should increase the available cash flow for individuals experiencing cash shortfalls as a result of the COVID-19 emergency.

From Section 2101

Or maybe this isn't law yet, I don't know.  I am confused.

 

 

[Lee B]

11 minutes ago, Robbie said:

The provision also allows all individuals to postpone estimated tax payments due from the date of enactment until October 15, 2020. There is no cap on the amount of tax payments postponed, and any individual required to make estimated tax payments can take advantage of the postponement. This delay should increase the available cash flow for individuals experiencing cash shortfalls as a result of the COVID-19 emergency.

From Section 2101

Or maybe this isn't law yet, I don't know.  I am confused.

 

 

Robbie,

This is a proposed law which has been introduced in the Senate but has not yet been voted on.

This proposed law would also grant automatic extensions for all tax returns due April 15th plus some other tax stuff.

[TAXMAN]

We just heard that the governor posted that all non critical business should shut down. We can even get into town offices and some of those do not have tax records on line available. From what I have read you still need to file the extension to stay ahead. Some of my nursing home clients still don't have all their stuff yet. Are we to assume just do blanket extensions and guess at numbers what ever they may be? Everybody in our office has some kind of bug and are not coming near the office. What to do?

[Gail in Virginia]

As it stands right now, I believe filing extensions is not out of line.  Payment has been extended to July 15 for federal, and June 1 for Virginia but both have said the returns still need to be filed on time or extended.  Since VA has automatic extension unless you owe I am not really sure what that means in terms of requiring return to be filed by May 1 even though taxes are net required to be paid until June 1.  And if the April 15 estimate for the federal doesn't have to to be paid until July 15, but there is no change in the June 15 estimate due date, does this mean you pay estimate 2 before estimate 1?  I hate changes done on the fly like this, and trying to get information that is coming out piecemeal with lots of speculation about proposed changes.  And never sure if me or my staff is going to catch something and have to stay home.  Argggh!

[Yardley CPA]

Looks like July 15 is the new date. 

 

https://www.foxbusiness.com/economy/trump-administration-moves-tax-day-to-july-15

[gfizer]

According to the local news alert I just received Secretary Mnuchin just announced that the tax filing deadline has been moved from April 15th to July 15th.  He said on Twitter  that, "All taxpayers and businesses will have this additional time to file and make payments without interest or penalties."

[michaelmars]

still waiting to hear about the states and if they are extending too

[jklcpa]

3 hours ago, michaelmars said:

still waiting to hear about the states and if they are extending too

Right, the states may be the problem where we'll still have to do the work or get an extension.

I still plan to finish the returns I have on hand and any whose documents are sent in or dropped in my box.  I work out of my home, and a few are already electronic delivery anyway.  I don't have anything else planned, so why not continue on.  It's nice to know that there's less pressure though, if it comes to clients or me getting sick.

[WITAXLADY]

yay! I do not have to spend hours rolling over and efilng extensions by 4/15! such a pain -

I am so excited!

There should be a batch extension like organizers!!

But I will keep working..

But I am sending out an email with updates

AND an auto reply email - only focusing on taxes and will get back to you if vip, not critical tax issues until a later date - such questions they ask - I don't know the answers to!

At least with no one allowed in - curb service - work is getting done with less interruptions - guess I should add a foyer!1

Stay Healthy!

D

[Lion EA]

I can send batch extensions, but only for $0 owed and not for all states, so it's still time-consuming -- and I'm relieved.

[BLACK BART]

I  just saw on Memphis TV news that Treasury Secretary Mnuchin (Munchkin, Muppet, whatever) announced that the FILING DATE was also extended to July 15th in addition to the extension to July 15 for PAYMENT.   Don't know what this does to extensions.  I HAVE NOT seen the actual OFFICIAL ANNOUNCEMENT, so DON'T QUOTE ME.  Anybody know anything different?

[jklcpa]

10 minutes ago, BLACK BART said:

I  just saw on Memphis TV news that Treasury Secretary Mnuchin (Munchkin, Muppet, whatever) announced that the FILING DATE was also extended to July 15th in addition to the extension to July 15 for PAYMENT.   Don't know what this does to extensions.  I HAVE NOT seen the actual OFFICIAL ANNOUNCEMENT, so DON'T QUOTE ME.  Anybody know anything different?

 

I consolidated your post into this topic.  Also, please see the pinned post at the top of Gen'l Chat:

 

 

[Lee B]

March 23, 2020

"The Oregon Department of Revenue said Monday that Oregonians can expect a final decision by Wednesday.

Oregon still deciding whether to allow coronavirus grace period for state taxes

Two days after the Internal Revenue Service extended the federal tax payment deadline, state officials are still unsure whether they will provide similar leniency.

Spokesperson Robin Maxey said that the revenue department is still trying to determine what impact a deadline extension, similar to the federal government’s, would have on Oregon’s coffers."

[DANRVAN]

On 3/23/2020 at 8:22 PM, cbslee said:

Oregon still deciding whether to allow coronavirus grace period for state taxes

I thought Oregon was tied to IRS for filing and payment dates?

So if Oregon does not connect we will need to prepare federal returns in order to properly file for Oregon.

Although my practice has not been affected by COVID 19, I would take advantage of the filing delay.

[DANRVAN]

At the direction of Governor Kate Brown, the Oregon Department of Revenue today announced an extension for Oregon tax filing and payment deadlines for personal income taxes and some other taxes closely following the IRS extension declaration. This move is a result of the governor’s priority to keep Oregonians safe and healthy, while also providing relief and consistency for Oregon taxpayers affected by the federal and state COVID-19 emergency.

 

Under the authority of ORS 305.157, the director of the Department of Revenue has ordered an automatic extension of the 2019 tax year filing and payment due dates for certain affected taxpayers as indicated below.

[Lee B]

2 hours ago, DANRVAN said:

At the direction of Governor Kate Brown, the Oregon Department of Revenue today announced an extension for Oregon tax filing and payment deadlines for personal income taxes and some other taxes closely following the IRS extension declaration. This move is a result of the governor’s priority to keep Oregonians safe and healthy, while also providing relief and consistency for Oregon taxpayers affected by the federal and state COVID-19 emergency.

 

Under the authority of ORS 305.157, the director of the Department of Revenue has ordered an automatic extension of the 2019 tax year filing and payment due dates for certain affected taxpayers as indicated below.

"Department of Revenue announces extension of tax filing deadlines and payments, March 25, 2020

Salem, OR—At the direction of Governor Kate Brown, the Oregon Department of Revenue today announced an extension for Oregon tax filing and payment deadlines for personal income taxes and some other taxes closely following the IRS extension declaration. This move is a result of the governor’s priority to keep Oregonians safe and healthy, while also providing relief and consistency for Oregon taxpayers affected by the federal and state COVID-19 emergency.

“The governor’s clearly stated goal is for Oregon families to stay home, save lives,” said Oregon Department of Revenue Director Nia Ray. “After consultation with the state treasurer and state budget officials, the Department of Revenue will extend personal and corporate income tax deadlines during this challenging period.”

Under the authority of ORS 305.157, the director of the Department of Revenue has determined that the governor’s state-declared emergency due to the COVID-19 pandemic and the action of the IRS will impair the ability of Oregon taxpayers to take certain actions within the time prescribed by law. Therefore, the director has ordered an automatic extension of the 2019 tax year filing and payment due dates for certain affected taxpayers as indicated below.

For personal income taxpayers:
• The Oregon return filing due date for tax year 2019 is automatically extended from April 15, 2020 to July 15, 2020.
• The Oregon tax payment deadline for payments due with the 2019 tax year return is automatically extended to July 15, 2020.
• Estimated tax payments for tax year 2020 are not extended.
• The tax year 2019 six-month extension to file, if requested, continues to extend only the filing deadline until October 15, 2020.
• Taxpayers do not need to file any additional forms or call us to qualify for this automatic Oregon tax filing and payment extension.
• If you have questions about your personal income tax, contact [email protected].

For corporate income/excise taxpayers:
• The Oregon return filing due date for tax year 2019 is automatically extended from May 15, 2020 until July 15, 2020. Returns due after May 15, 2020 are not extended at this time.
• The Oregon tax payment deadline for payments due with the 2019 return by May 15, 2020 is automatically extended to July 15, 2020. Payments for returns due after May 15, 2020 are not extended at this time.
• Estimated tax payments for tax year 2020 are not extended.
• Taxpayers do not need to file anthaty additional forms or call us to qualify for this automatic Oregon tax filing and payment extension.

Interest and penalties:
• Because of the extension of the due dates for filing returns and making payments, any interest and penalties with respect to Oregon tax filings and payments extended by this order begin accruing on July 16, 2020.
• No automatic extension is provided in this order for the payment or deposit of any other type of Oregon tax or for the filing of Oregon information returns."

Please note that 1st quarter estimated payments are due on April 15th and are not extended.