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US filing deadline extended

15th April Federal Tax Return Filing Deadline – EXTENDED!

On Saturday 21st March the IRS issued an official statement (Notice 2020-18) allowing US taxpayers who had a 2019 tax return filing obligation due on 15th April 2020 to be extended automatically to 15th July 2020. This was later confirmed by the US President later in the day during the COVID-19 press conference update.

This falls in line with the previous US tax blog released last week – where on Tuesday 17th March 2020, the US Treasury announced that individual and corporate taxpayers may be granted a 90-day extension to pay their 2019 Federal tax liability. As of 21st March the IRS have removed the limit on the amount of tax that may be deferred to 15th July 2020.

This deferral to 15th July 2020 also applies to the first quarter of estimated taxes towards a taxpayers 2020 tax liability – previously due 15th April 2020.

Unfortunately, there has been no further guidance given for US expats. We will continue to assume that the tax return filing requirement for a US taxpayer living outside of the USA will remain 15th June 2020, however as standard practice will timely submit a Form 4868 application to the IRS for all of our clients allowing a filing extension to 15th October 2020.

Please contact your Websters account manager for further details.