The Treasury Department and IRS today extended more than 300 deadlines for tax filings, payments and other requirements to July 15, its latest step to offer taxpayers relief from disruptions caused by the coronavirus pandemic.
Certain businesses, tax-exempt organizations, estates and trusts will get the extensions as a result of last month’s federal disaster declaration.
The tax preparation industry had been seeking such broad relief, which follows extensions to July 15 already granted for filing and payment deadlines for individual taxpayers, who had been facing an April 15 deadline under usual tax season guidelines.
The IRS is also working with a depleted workforce as a result of service center closures and social distancing procedures.
The new extension applies to tax returns and payments for tax-exempt organizations and fiscal-year businesses, including partnerships, that are normally due between April and June.
In addition, tax return and payment deadlines for estate taxes and associated gift taxes, typically due within nine months from the date of death, qualify for the same relief.
For all taxpayers, Treasury and IRS also extended 270 administrative deadlines to July 15.
They also made that the deadline for tax preparers who lack professional credentials to apply for a voluntary education program.
One of the groups that pushed hardest for the wide-ranging extensions, the American Institute of CPAs, welcomed the moves but said the IRS should be prepared to provide more relief.
Barry Melancon, the group's president and CEO, said "we continue to urge Treasury and IRS to develop a contingency plan for the next phase of relief should that be needed. As a country, we should not risk anyone’s life to meet tax filing obligations.”