IRS Issues Guidance Extending

IRS Issues Guidance Extending

Amit Chandel Amit Chandel

Amit Chandel

I help business owners to achieve financial goals by minimizing taxes | Award winning Author | 2017 Tax Planner of the year

发布日期: 2020年3月19日
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Hope everyone is staying healthy, safe, and productive! We wanted to make sure you are in the loop on the latest tax developments. Enjoy!

The IRS has issued a notice extending tax payment deadlines into the summer however the April 15 tax return filing deadline remains in place.

Notice 2020-17 extends the tax payment deadline to July 15, with the extension applying to all taxpayers with federal income tax payments due April 15, up to specified thresholds.

Individual taxpayers can postpone up to $1,000,000 in federal income tax payments, while corporate taxpayers can postpone up to $10,000,000 in income tax payments.

The extension doesn’t apply to other types of federal taxes or to the filing of federal tax or information returns, according to the notice.

If you need any guidance or if we can help ease some confusion with regard to this please contact us at 562-281-1040 or email us at [email protected].

Best,

Crystal Wampler & Amit Chandel


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