In response to the Coronavirus Disease 2019 (COVID-19), the Treasury Department and the Internal Revenue Service (IRS) issued Notice 2020-18 which provides for filing and payment relief for certain taxpayers and returns. In essence, the notice extends the April 15, 2020 filing and payment deadline to July 15, 2020. The IRS has provided additional guidance in the Filing and Payment Deadlines Questions and Answers page on their website.
The following is information that is pertinent to our higher education and other tax exempt organization clients.
- The notice only applies to returns and payments that are due on April 15, 2020; therefore, returns and payments that are currently due on May 15, 2020 are not affected by this notice.
- The notice does not apply to Form 990 but it does apply to Form 990-T filings that are due on April 15, 2020 (original or extended due dates); therefore, our May 31, 2019 clients with an extended due date of April 15, 2020 for Form 990 and Form 990-T will have to file Form 990 by April 15, 2020; however, the filing and payment deadline for Form 990-T is automatically extended to July 15, 2020.
We will continue to monitor the situation and will inform you of any updates.