UPDATE – Mar 20, 2020:
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Treasury Dept announces that tax filing deadline has now been pushed to July 15 (3 months) to align with payment deadline
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Status of Q1 2020 estimated payments not mentioned
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Status of high earners or large corps not mentioned (see below)
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No word on whether $1,200 payments will be taxable, but assume yes (1099-G, similar to unemployment)
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CA and CT are in line with IRS; NJ/NY have not clarified
As you have heard the Treasury Department on Tuesday announced some adjustments to the income tax schedule for 2019 taxes. Note that this is for IRS/federal filing only. They are:
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90 day delay on PAYMENTS for individuals (1040) and c-corps (1120)
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must still FILE on time (April 15)
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partnership (1065)/s-corp (1120s) deadline was Monday (Mar 16) so that is not affected
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so far does NOT apply to Apr 15, 2020 quarterly estimated payments, so get those in
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if you owe more than $1M or a c-corp owes more than $10M – regular rules apply
STATE filings may follow a different schedule:
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NEW JERSEY – bill with senate right now to delay payment AND filing deadline to match IRS timing
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NEW YORK – no change to timing, as of March 16
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CONNECTICUT – No change yet to individual filings. Partnership/s-corp filing delayed to April 15 and payments to June 15, corp (1120) to June 15
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CALIFORNIA – filing AND payment deadline pushed to June 15. also applies to filings for partnerships that were due March 16. Q1 2020 estimated payments delayed to June 15
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other states vary. see daily updates at: