IRS deadlines extended

Due to the COVID-19 crisis, the IRS has extended the 2019 income tax filing and payment deadlines for all taxpayers who file and pay their federal income taxes on April 15, 2020 until July 15, 2020. This relief automatically applies to all individual returns, trusts, and corporations. Taxpayers do not need to file any additional forms or call the IRS to qualify. The extension also applies to quarterly estimated taxes that were due on April 15, 2020.

For taxpayers who are engaged in an IRC Section 1031 tax-deferred exchange, if the end of the 45-day identification period or 180-day exchange closing period falls between April 1 and July 15, 2020, the applicable period is automatically extended to July 15, 2020.