Notice 2020-23

Notice 2020-23 Extended Additional Key Tax Deadlines for Individuals and Businesses

April 14, 2020 - On April 9, 2020 the Treasury Department and IRS announced Notice 2020-23 which expands on previous relief provisions for affected taxpayers related to COVID-19 and (1) provides postponement of due dates with respect to certain Federal tax returns and Federal tax payments; (2) provides relief with respect to specified time-sensitive actions; and (3) postpones due dates with respect to certain Government Acts. Affected Taxpayers include any person with a Federal tax payment obligation or other form filing obligation that is due on or after April 1, 2020 and before July 15, 2020.

Notice 2020-23 specifically extends the payment and filing deadlines for the following forms:

  • Form 1040 series (1040, 1040-SR, 1040-NR, 1040-NR-EZ, 1040-PR, and 1040-SS)
  • Form 1041 series (1041, 1041-N, and 1041-QFT)
  • Forms 1065 and 1066
  • Form 1120 series (1120, 1120-C, 1120-F, 1120-FSC, 1120-H, 1120-L, 1120-ND, 1120-PC, 1120-POL, 1120-REIT, 1120-RIC, 1120-S, and 1120-SF)
  • Form 706 series (706, 706-NA, 706-A, 706-QDT, 706-GS(T), 706-GS(D), and 706-GS(D-1))
  • Form 709
  • Form 8971
  • Forms 990-T, 990-PF

Notice 2020-23 also extends filing and payment deadline relief to:

  • All schedules, returns, and other forms that are filed as attachments to the specified forms
  • Elections that are made or required to be made on a timely filed specified form
  • Estimated quarterly tax payments due from April 1 through July 14 (Both first and second quarter estimated payments are due on July 15)

In addition, deadlines for any of the following occurring from April 1 through July 14 are also extended to July 15:

  • Filing a petition with the Tax Court
  • Appealing a decision by the Tax Court
  • Filing a claim for credit or refund of any tax
  • Bringing suit upon a claim for credit or refund of any tax

A 30-day postponement is granted for Time Sensitive IRS Actions if the last date for performance of the action is on or after April 6, 2020, and before July 15, 2020. The 30-day period following the last date for the performance will be disregarded in determining whether the performance is timely.

The following persons are “Affected Persons” with regard to Government Acts:

  • Persons who are currently under examination (including an investigation to determine liability for an assessable penalty)
  • Persons whose cases are with the Independent Office of Appeals
  • Persons who, during the period beginning on or after April 6, 2020 and ending before July 15, 2020, file amended returns or submit payments with respect to a tax for which the time for assessment would otherwise expire during this period

 Please feel free to contact your Dermody, Burke & Brown tax advisor to further discuss any questions you may have.

The information reflected in this article was current at the time of publication.  This article will not be modified or updated for any subsequent tax law changes, if any.