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Extended Tax Payments

The IRS issued guidance on the extension for federal tax payments due April 15. In Notice 2020-17, the IRS has provided details about the previously announced tax payment extension relief for taxpayers with federal income tax payments. For affected taxpayers, the due date for making federal income tax payments usually due April 15, 2020, is postponed to July 15, 2020. The applicable postponed payment amount is up to $10 million for corporations and $1 million for other taxpayers. The payment postponement of up to $1 million applies to estimated tax payments and income tax payments due on April 15 from trusts and estates. Important: The guidance doesn’t provide any filing date extensions.