IRS & TREASURY DEPARTMENT ANNOUNCES IT WILL NOT EXTEND JULY 15, 2020 DEADLINE

/

Download PDF

The Department of the Treasury and IRS today announced the tax filing and payment deadline of July 15, 2020 will not be postponed due to the coronavirus. Taxpayers unable to meet the July 15, 2020 due date can request an automatic extension of time to file until October 15, 2020.

We advise all clients to make all properly estimated tax payments by July 15, 2020 and to file extensions accordingly, where applicable.

NYS – EXTENDING FILING DEADLINES

/

Download Detailed Client Alert PDF

As a result of the snowstorm, NYS has extended filing deadlines due March 15, 2017 to March 20, 2017. In general, no special relief needs to be requested; only that the tax returns need to be field by March 20, 2017. This would include, for example, the partnership tax return due March 15, 2017.

The exceptions to this relief include (i) remittances of income tax withheld by employers required to file NYS-1 and remittances of withholding tax or MCTMT required to be made by employers through the PromptTax system. Notice N-17-3 details the full announcement, which is reproduced below for your convenience.

FEDERAL – EXTENDED FILING DEADLINES

/

Download detailed client alert PDF

As a result of the snowstorm, the IRS has extended certain filing deadlines due March 15, 2017, including partnerships and S Corporations.

In order to take advantage of this extension, taxpayers must file Form 7004 (Extension Request) on or before March 20, 2017. The taxpayer should write “Winter Storm Stella” on their form.

IR-2017-61 provides details the full announcement, which is reproduced below for your convenience.

NYS – CHANGE IN FILING DEADLINES

/

Download Detailed Client Alert PDF

As a friendly reminder, to match changes to federal income tax return deadlines, New York State has made the following changes to state income tax returns for calendar year 2016:

  • Partnerships: the new due date is 3/15;
  • S Corporations: no change;
  • Corporations: the new date is 4/15;
  • Trusts: no change.

Please further note the following:

  • The return deadline for IT-204-LL (for partnerships and limited liability companies which are disregarded entities, which have New York Source income or expense) is 3/15.
  • There were certain changes relating to the mandatory first installment payment for certain corporations.

The details of these changes are described under New York State  Department of Taxation and Finance Technical Memorandums TSB-M-16(9)C, (7)l and TSB-M-16(10)C, which are attached hereto.