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On April 9, 2020, the IRS issued Notice 2020-23, which expands the overall tax relief for federal tax filings and payments that were provided in other IRS Notices. Notice 2020-23 broadens the extension of the April 15, 2020 deadline until July 15, 2020, to other tax returns/tax payments not previously given the extension. Notably, Notice 2020-23 provided that the following returns/payments are given the July 15, 2020 deadline:
- 2020 second quarter federal estimates for individuals, trusts, corporations and partnerships;
- Estate and trust income tax payments and return filings on Form 1041, U.S. Income Tax Return for Estates and Trusts;
- Estate and generation-skipping transfer tax payments and return filings on Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return;
- Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return filed pursuant to Revenue Procedure 2017-34;
- Form 8971, Information Regarding Beneficiaries Acquiring Property from a Decedent and any supplemental Form 8971, including all requirements contained in Code Sec. 6035(a);
- Gift and generation-skipping transfer tax payments and return filings on Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return that are due on the date an estate is required to file Form 706 or Form 706-NA; and
- Excise tax payments on investment income and return filings on Form 990-PF, Return of Private Foundation or Section 4947(a)(1) Trust Treated as Private Foundation.
For more information, click here to read the complete Notice.
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