IRS Steps Up
The IRS expanded its filing and payment due date relief to include most taxpayers with filing and payment deadlines on or after April 1, 2020, and before July 15, 2020. In each case the revised due date is July 15, 2020.
Among the entities and situations the relief applies to are:
• All federal income tax returns and their balance due
• Federal first quarter estimated tax payments
• Federal second quarter estimated tax payments
• Estate tax returns and gift tax returns
• Private foundations filing Form 990-PF
• Exempt organizations filing Form 990 and form 990-T
• Americans living abroad
• 2016 unclaimed refunds
Minnesota has not been so generous. Some guidance has been provided on how to calculate first quarter estimated tax payments, however, they and most upcoming filings and payments aside from 2019 individual income tax returns and balance due amounts are still due on their original due date.
Minnesota is allowing a 60-day payment grace period for MinnesotaCare monthly and quarterly estimated tax payments due April 15, 2020.
MinnesotaCare returns due March 16, 2020, that have not yet been filed will be granted a 60-day filing extension by filing an extension request by April 15, 2020, to MinnesotaCare.firstname.lastname@example.org or as a secure message in e-Services. The extended due date is May 15, 2020.
• Minnesota 2019 individual income tax returns and related balance due amounts that were due April 15, 2020, are due July 15, 2020.
• Most everything else that was due to be filed and paid to Minnesota April 15, 2020, and beyond is still due on its normal due date.
Check with your SDK contact if you have specific questions about how the changes of due dates apply to your situation.