March 30, 2020

Has the IRS extended tax filing or payment deadlines?

COVID-19 impact on tax filing, payment deadlines

Updated March 30, 2020

Has the IRS extended tax filing or payment deadlines?

Yes.  Treasury Secretary Steven Mnuchin announced in a tweet on March 20, 2020 that the April 15th tax filing deadline has been extended to July 15th. This changes the previous extension of only payment of taxes. Now, all April 15th tax filings and payments have been extended to July 15, during which period, no penalties or interest will be assessed on unfiled returns/ unpaid balances. Penalties and interest will begin to accrue on July 16, 2020.

The following is a link to the IRS’s notice on this topic: Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic.

For more information, visit the IRS Coronavirus Tax Relief page.  

Has the State of Vermont extended tax filing or payment deadlines?

On March 23, 2020, the Vermont Department of Taxes announced that it will provide temporary relief to Vermont businesses who owe sales and use tax, as well as meals and room taxes. If a business is unable to make the payments of such taxes due on March 25 and April 25, they will not be assessed penalties or interest for late submissions. Note that payment of the taxes is not waived, and if businesses are able to make such payments they should. This is not an abatement of taxes, as the Commissioner of Taxes does not have the authority to cease collecting said taxes. Furthermore, the taxes are not cancelled going forward, and thus, businesses must continue to collect both sales and use tax, as well as meals and rooms tax. 

The Department of Taxes has also moved the filing and payment deadline for the following Vermont taxes from April 15 to July 15:

  • Vermont personal income tax
  • Vermont Homestead Declaration and Property Tax Credit Claims
  • Corporate Income Tax
  • Fiduciary Income Tax

For additional updates, please visit: https://tax.vermont.gov/coronavirus.

For answers to frequently asked questions regarding 2020 Vermont Tax Relief, click here.

Has the State of New Hampshire extended tax filing or payment deadlines?

On March 30, 2020, the New Hampshire Department of Revenue Administration announced relief to approximately 98 percent of all Business Profits Tax (BPT), Business Enterprise Tax (BET) and Interest & Dividends Tax (I&D) taxpayers, in response to conditions caused by COVID-19. The April 15, 2020 payment deadline is extended to June 15, 2020 for businesses whose 2018 BPT and BET tax liability was $50,000 or less and I&D taxpayers whose 2018 tax year liability was $10,000 or less. Certain qualifying taxpayers impacted by the coronavirus pandemic are entitled to a seven-month return filing extension for BPT, BET and I&D taxes (extending the deadline to November 15, 2020). Additional safe harbors are expanded to 2020 tax year quarterly taxpayers, who will not be charged penalties or interest if their quarterly payments equal at least 25% of their 2018 tax liability. 

Visit our COVID-19 Resource Center for more information.

Have more questions? Reach out to Roger Prescott (rprescott@drm.com


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