The Internal Revenue Service has announced they are permitting both the FILING and the PAYMENT for taxes due to be extended until July 15, 2020 without any penalties or interest assessed. This also includes the payment of Quarterly Estimated Tax Payments due on April 15, 2020 (https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers). Although, they are encouraging those who can pay to do so promptly. We are pleased with this relief for the benefit of our clients. The State of Arizona has chosen to conform to this federal extension as well.
It was also announced that the FUNDING deadline for IRA’s and HSA’s for 2019 has been extended until July 15, 2020 as well, which is pinned to the filing deadline without extension. These are automatically extended with the extension of the original filing deadline.
Read here for the full IRS notice regarding relief for affected taxpayers: IRS Notice 2020-18