The due date for filing Federal income tax returns and making Federal income tax payments due April 15, 2020, has been postponed to July 15, 2020. Taxpayers do not have to file any forms for the extension. There is no limitation on the amount of the payment that may be postponed. This relief is available solely with respect to Federal income tax payments (including payments of tax on self-employment income) and Federal income tax returns due on April 15, 2020, and Federal estimated income tax payments (including payments of tax on self-employment income) due on April 15, 2020, for a Taxpayer’s 2020 taxable year.
No extension has been provided for the payment or deposit of any other type of Federal tax, or for the filing of any Federal information return.
The due date for making contributions to IRA and HSA plans was also extended to July 15, 2020.
As a result of the postponement of the due date for filing Federal income tax returns and making Federal income tax payments from April 15, 2020, to July 15, 2020, the period beginning on April 15, 2020, and ending on July 15, 2020, will be disregarded in the calculation of any interest, penalty, or addition to tax for failure to file the Federal income tax returns. Also, the interest, penalties, and additions to tax with respect to such postponed Federal income tax filings and payments will begin to accrue on July 16, 2020.
Virginia has not yet extended the May 1, 2020 filing deadline for individual income tax return, but Gov. Ralph Northam has extended the May 1 payment deadline to June 1, 2020.
For more questions and answers on the extension and payment deadlines, please see the IRS web site at https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers.