This represents a distillation of what I’ve been able to gather. While not definitive, I hope this will provide a starting point for discussion.
Everyone already is aware of the new July fifteenth deadline for payment of your 2019 tax. You can file form 4868 on or before April fifteenth and defer, as well, need to file a tax return for six additional months. However, you would still need to pay any tax owed by July fifteenth.
Word is the IRS is also granting relief to those who must pay 2020 estimated tax on April fifteenth. I’m a bit uncertain, but I think that payment also is deferred until July fifteenth. I’ve not been able to ascertain what, if any, changes apply to our June fifteenth estimated tax payments.
The IRS apparently has issued guidance on all this stuff, but that writing is not yet in widespread distribution. If anyone has it, please post a link.
CNBC has just published an update on this matter. There is a move afoot in Congress to change the filing date to July fifteenth so that it coincides with the new payment due date.
Those are excellent references. Thank you so much, xerty, for posting. OK, here is what it said:
No other extension is provided under Notice 2020-17 for the payment or deposit of any other type of federal tax or income tax payments due at any other times, or for the filing of any tax return or information return. Please stay tuned for further developments.
Focusing on “due at any other times”, I conclude the following:
Our estimated tax payments due on June15 continue to be due on June 15.
This seems to me a tad bit strange. In effect, taxpayers will be making their June 15 estimated tax payments BEFORE they pay, on July 15, the estimated tax payment due on April 15.
Also, this troubles me somewhat:
While the statement about payments due on April 15 would appear to be all inclusive, there is no specific mention made of the estimated tax payment due that day. For many of us, our April 15 estimated tax payment could easily be the largest payment we have due that day.
I hope the IRS continues to clarify all this prior to April 15.
I have broadened the topic here for obvious reasons. The spreading pandemic has precipitated tax changes, or lack thereof, across the board, not just at the Federal level. Some things are changing, other things are not changing.
I really enjoy not having to file or pay my taxes on April fifteenth . . . . . . . . . . . to the point of having been carried away and ignoring (on this thread) the obvious. Will try to correct that failing now:
Suggest everyone file their taxes pronto. That’s file, not pay. Reason behind this suggestion:
Yeah, it’s obvious. But felt I needed to include it here lest anyone lose sight of the obvious in the midst of euphoria.
1099 forms and payroll taxes… Doesn’t that pretty much affect everyone here??
"What doesn’t qualify for the IRS’s three-month delay?
Among other things: estate and gift taxes, excise taxes, information returns such as 1099 forms, and payroll taxes—although Congress is considering a payroll-tax deferral. In addition, tax items that don’t have April 15 deadlines, such as the March 16 due date for partnership returns, don’t qualify for the extension."