Tax Deadline is Now July 15 for Most Taxpayers
Updated April 9, 2020 (subject to change)
Last week, The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date is automatically extended from April 15, 2020 to July 15, 2020.
PAYMENTS DUE
As part of the relief, taxpayers can also defer federal income tax payments due April 15, 2020 to July 15, 2020 without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations, and other non-corporate tax filers as well as those who pay self-employment tax.
STEPS TO TAKE
Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief.
The automatic extension does not apply to any other type of federal tax or “information” type returns, such as gift returns. If you are expected to file such a return by April 15, 2020, an extension would be required to be filed.
| Federal Form/Tax | Original Due Date | New Filing Due Date | New Payment Due Date |
|---|---|---|---|
| Individuals, Form 1040 Sole Proprietors, Form 1040 Corporations, Form 1120 (calendar yr) Trusts, Form 1041 | April 15, 2020 | July 15, 2020 | July 15, 2020 |
| 1st Quarter 2020 Federal Estimates | April 15, 2020 | July 15, 2020 | July 15, 2020 |
| 2nd Quarter 2020 Federal Estimates | June 15, 2020 | July 15, 2020 | July 15, 2020 |
| 3rd Quarter 2020 Federal Estimates | September 15, 2020 | not affected | not affected |
| 4th Quarter 2020 Federal Estimates | January 15, 2021 | not affected | not affected |
| FBAR, Form 114 | April 15, 2020 | October 15, 2020 | n/a |
| Gift tax return, Form 709 | April 15, 2020 | July 15, 2020 | July 15, 2020 |
| North Carolina Form/Tax | Original Due Date | New Filing Due Date | New Payment Due Date |
|---|---|---|---|
| Individuals, Form D-400 Corporations, Form CD-405 (calendar yr) Trusts, Form D-407 | April 15, 2020 | July 15, 2020 | July 15, 2020 |
| 2020 State Estimates (first quarter) | April 15, 2020 | July 15, 2020 (but interest computes beginning on 6/15) | July 15, 2020 (but interest computes beginning on 6/15) |
| 2020 State Estimates (other quarters) | not affected | not affected | not affected |
| South Carolina Form/Tax | Original Due Date | New Filing Due Date | New Payment Due Date |
|---|---|---|---|
| Individuals, Form SC 1040 Corporations, Form SC 1120 (calendar yr) Trusts, Form SC 1041 | April 15, 2020 | July 15, 2020 | July 15, 2020 |
| 2020 State Estimates (all quarters) | same as federal | same as federal | same as federal |
These provisions apply to 2019 tax returns and 2020 estimated tax payments only, and are not applicable to prior year amended returns whose due dates would also fall on April 15, 2020.