2019 Tax Filing Date Deadlines Extended
Revised April 1, 2020
Internal Revenue Service Notice 2020-18 extends the filing deadline for most federal income tax returns from April 15, 2020 to July 15, 2020. Notice 2020-20 does the same for gift and generation skipping transfer (GST) tax returns. No request for an extension needs to be filed. Taxpayers can also defer payment of federal income, gift, and GST tax until July 15, 2020, without interest or penalties, regardless of the amount due. Taxpayers that are due an income tax refund are encouraged to file as soon as possible. More information may be found on IRS.gov.
On April 1st, Governor Murphy’s office announced in a joint statement, with Senate President Steve Sweeney and Assembly Speaker Craig Coughlin, that the New Jersey State income tax and corporate business tax filing deadlines will be extended to July 15, 2020. The statement does not include an extension of the deadline to pay New Jersey state income tax. Additionally, the statement does not include an extension of the deadline for filing of returns or payments of New Jersey Sales Tax.
Assembly Bill A3841, which Governor has yet to sign, provides that “The Director of the Division of Taxation may adopt the same terms and conditions specified by federal law or regulation for any such filing extension or payment due date.” If Governor Murphy signs A3841, it is possible that the Division of Taxation may defer payment of income tax, but until A3841 is signed into law and such an announcement is made, taxpayers should assume no payment extension will be adopted.
Levine Staller’s tax attorneys will continue to monitor the status of the New Jersey legislation and update this blog post with further developments.