White House Announces Tax Payment Deferral Due to Coronavirus Concerns
Today, the Internal Revenue Service (“IRS”) released Notice 2020-17 which extends the deadline for payments of federal income taxes for the 2019 taxable year as well as any estimated income tax payments for the 2020 taxable year due on April 15, 2020. The Notice, made as part of a White House’s response to the ongoing coronavirus disease 2019 pandemic, makes clear that applicable tax return filing deadlines remain the same, but certain payments required in connection with those filings can be deferred up to 90 days.