Additional Tax Deadline Changes

The IRS has announced additional tax deadline extensions.

 

The extensions, detailed in Notice 2020-23, generally now apply to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020. Individuals, trusts, estates, corporations and other non-corporate tax filers qualify for the extra time.

 

Relief also applies to estimated tax payments due June 15, 2020. This means that 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.

 

The deadline to contribute to a traditional or Roth IRA has also been extended until July 15, 2020.

 

The extensions apply to many forms and tax payments made by tax-exempt organizations, including: 

  • Form 990-series annual information returns or notices (Forms 990, 990-EZ, 990-PF, 990-BL, 990-N (e-postcard))
  • Forms 8871 and 8872
  • Form 5227
  • Form 990-T
  • Form 1120-POL
  • Form 4720
  • Form 8976

 

Kentucky:

 

{Updated April 17, 2020}

At the direction of Governor Andy Beshear and SB 150, the Kentucky Department of Revenue (DOR) will adopt the income tax relief set forth in Internal Revenue Service (IRS) Notice 2020-18, Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic, as well as the additional relief provided in IRS Notice 2020-20 and Notice 2020-23.  This income tax relief is applicable to individual, corporate, limited liability, fiduciary and pass-through filers with filing and payment deadlines on or after April 15, 2020 and before July 15, 2020. 

 

This relief includes:

  • Kentucky income tax return filings currently due on April 15, 2020, May 15, 2020, and June 15, 2020 for individual, corporate, limited liability, fiduciary and pass-through filers, shall now be due July 15, 2020;
  • Kentucky income tax payments currently due on April 15, 2020, May 15, 2020, and June 15, 2020 for individual, corporate, limited liability, fiduciary and pass-through filers, shall now be due July 15, 2020. Estimated payments due on these dates are included in the deferral; and
  • The calculation and application of penalties, fees and interest corresponding to Kentucky income tax filings and payments now due on July 15, 2020 for individual, corporate and limited liability filers shall begin on July 16, 2020. 

Automatic Return Filing Date Extension Relief:

  • For filers who submit an automatic return filing extension, the due date for returns previously due April 15, 2020, but now due July 15, 2020, shall be October 15, 2020.  For C corporations the extension due date shall be November 15, 2020; 
  • For filers who submit an automatic return filing extension, the due date for returns previously due May 15, 2020, but now due July 15, 2020, shall be November 15, 2020.  For C corporations the extension due date shall be December 15, 2020; and
  • For filers who submit an automatic return filing extension, the due date for returns previously due June 15, 2020, but now due July 15, 2020, shall be December 15, 2020.  For C corporations the extension due date shall be January 15, 2021.

Louisville Metro:

 

In accordance with the Federal filing deadlines described in recent Internal Revenue Service (IRS) Notice 2020-18, the Louisville Metro Revenue Commission will extend the 2019 LMRC Occupational License Tax Return (Form OL-3) or Extension Request (Form OL-3E) filing due date from April 15, 2020 to July 15, 2020. This change will be extended to all taxpayers for fiscal years ending December 31, 2019 – February 29, 2020.

 

Additionally, LMRC has shifted the April 15, 2020 quarterly deposit deadline to May 15, 2020 for entities required to file a quarterly estimated payment. All other LMRC deadlines will remain in place. Visit the Tax Calendar for more info.

 

Jefferson County:

 

The tangible property tax return due date is now July 15, 2020. Click here for more info.

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