The Internal Revenue Service has extended tax deadlines for individuals and businesses. The deadline for individual returns was extended until July 15, 2020 to file and to pay. The IRS will not charge penalties or interest if taxpayers file by July 15th.

On April 9th, the IRS expanded that relief to cover generally all taxpayers, i.e., individuals, trusts, estates, corporations and other non-corporate tax filers. Individual taxpayers who need additional time beyond the July 15 deadline can request an extension to October 15, 2020. Taxpayer who need additional time should seek the assistance of a tax professional and file Form 4868. Businesses can seek additional time beyond July 15th, by filing Form 7004. The extension to file beyond July 15th will not extend the time to pay any taxes owed. Taxpayers should estimate their taxes owed and pay by the July 15th deadline; otherwise, the IRS will impose penalties and interest.

Estimated tax payments for 2020 have been extended. Payments due April 15th and June 15th 2020 are now due July 15th. Also, taxpayers who have refunds they would like to claim from their 2016 tax returns have their filing amended return deadline extended from April 15th to July 15th. The IRS only allows three years from the filing due date to receive refunds from amended returns.

Gene M. Bowman, Tax Attorney

Huntsville, AL