#2016 tax extension when due software

The IRS also issued Revenue Procedure 2020-24 Thursday, which provides guidance under Section 172(b)(1) and Section 172(b)(3), as amended by the CARES Act. On March 27, the AICPA sent a letter to Treasury and the IRS asking for all federal income tax, information returns, and payments originally due between Maand Jbe given extra time to file and pay until July 15, 2020. On Tuesday, the AICPA urged Treasury Secretary Steven Mnuchin in a letter to immediately expand the tax-related relief to all types of returns and payments. As a country, we should not risk anyoneвЂ™s life to meet tax filing obligations.вЂќ 'While the AICPA appreciates the relief announced today, we continue to urge Treasury and IRS to develop a contingency plan for the next phase of relief, should that be needed. The seriousness of this global crisis is overwhelming,вЂќ said AICPA president and CEO Barry Melancon in a statement. TodayвЂ™s release of Notice 2020-23 is great news to the thousands of taxpayers and tax professionals who are faced with upcoming deadlines. вЂњOver the last several weeks, we repeated our requests to Treasury and the IRS for extensive tax filing and payment relief. The American Institute of CPAs praised the tax filing and payment extensions. The law requires taxpayers to properly address, mail and ensure the tax return is postmarked by the July 15, 2020, date. If taxpayers do not file a return within three years, the money becomes property of the U.S.

The law provides a three-year window of opportunity to claim a refund. That means any individual or corporation that has a quarterly estimated tax payment due on or after April 1, 2020, and before July 15, 2020, can wait until July 15 to make that payment, without penalty.Дў016 unclaimed refunds deadline extended to July 15ДЇor 2016 tax returns, the normal April 15 deadline to claim a refund has also been extended to July 15, 2020. Taxpayers requesting additional time to file should estimate their tax liability and pay any taxes owed by the July 15, 2020, deadline to avoid additional interest and penalties.ДЄlong with the estimated tax payments for April 15 that were previously extended until July 15, Notice 2020-23 also extends relief to estimated tax payments due June 15, 2020.

An extension to file is not an extension to pay any taxes owed.

Businesses who need additional time must file Form 7004.

#2016 tax extension when due software

15, 2020, by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Individual taxpayers who need extra time to file beyond the July 15 deadline can ask for an extension until Oct.