March 31, 2020Jenna Staton

Tax Filing Deadlines - Federal and State Update - Part Two

On Friday, March 27th, President Trump signed the CARES Act into law, which is largest relief/stimulus package ever in our Nation as we continue to battle the coronavirus (COVID-19) pandemic. Included in this law are many provisions for individual stimulus, businesses of all sizes. Separate and apart from this bill, the Treasury Department, along with the Internal Revenue Service, extended the filing due date and the payment due date of Federal income taxes.

As we have previously communicated, Federal tax filings and Federal tax payments have been extended until July 15, 2020. In an effort to be proactive, we have filed protective Federal extensions on behalf of all our clients. This further extends your filing deadline until October 15, 2020, however, any payments due for the 2019 tax year or any payments due for the first quarter of 2020, must be paid by July 15, 2020 to avoid underpayment penalties. Also, at this point, second quarter 2020 estimates are still due June 15, 2020. We will continue to gather tax information and file income tax returns though this deferral period.

On the state side, we have been in communication with the states where our clients live and/or file tax returns. To date, most states are conforming to the Federal guidelines to extend 2019 tax due dates, payment of 2019 taxes and payment of first quarter 2020 tax estimates until July 15, 2020, but there are some exceptions.

The following states have extended the 2019 tax due date and payment until July 15, 2020, but still have first quarter estimated tax payments due April 15, 2020:

Arkansas
Arizona
District of Columbia
Hawaii (2019 returns/extension due July 20, 2020)
Idaho (2019 returns/extensions due June 15, 2020)
Iowa (2019 returns/extensions due July 31, 2020)
Illinois
Kansas
Kentucky
Louisiana
Massachusetts
Minnesota
North Carolina
North Dakota
Oregon
Utah
West Virginia

The following states are not conforming to the Federal law and must file returns/extensions by April 15, 2020 unless otherwise noted:

Mississippi (due May 15, 2020, includes 1^st QTR 2020)
New Hampshire
New Jersey (due June 30, 2020, includes 1^st QTR 2020 – proposed, not signed to law)
Vermont – pending legislation
Virginia (due June 1, 2020, includes 1^st QTR 2020)

We will continue to keep you updated on changes as they occur.

Stay Safe and Be Well!