Tax Deadline is Now July 15 for Most Taxpayers

Updated March 25, 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/TaxOriginal Due DateNew Filing Due DateNew 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 EstimatesApril 15, 2020July 15, 2020July 15, 2020
2nd Quarter 2020 Federal EstimatesJune 15, 2020not affectednot affected
3rd Quarter 2020 Federal EstimatesSeptember 15, 2020not affectednot affected
4th Quarter 2020 Federal EstimatesJanuary 15, 2021not affectednot affected
FBAR, Form 114April 15, 2020October 15, 2020n/a
Gift tax return, Form 709April 15, 2020July 15, 2020July 15, 2020
North Carolina Form/TaxOriginal Due DateNew Filing Due DateNew 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 Federal Estimates (all quarters)not affectednot affectednot affected
South Carolina Form/TaxOriginal Due DateNew Filing Due DateNew 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 Federal Estimates (all quarters)same as federalsame as federalsame 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.