Tax filing updates
As as result of the COVID-19 pandemic disruptions, the federal and state agencies have modified the due dates for certain returns. Here is a summary:
- Tax Returns: All taxpayers with a filing date falling on or after April 1, 2020 and before July 15, 2020 now have a due date of July 15, 2020 to file and pay. This includes individuals, trusts, estates, corporations, and nonprofits. Extensions may still be filed by July 15 to extend the filing to the original extension due date.
- Q1 & Q2 Estimated Payments: due July 15, 2020. Penalties and interest for underpayment will not accrue for the period between April 15 and July 15.
- Hall Income Tax and Franchise & Excise Tax: due July 15th
- Local Business (Gross Receipts) Tax: due June 15th
Most states have followed the federal date move to July 15, but there are a few exceptions. If you are interested in a particular state, the AICPA has an up-to-date guide here.