2019 Tax Filing Date Deadlines Extended
Revised April 14, 2020
Internal Revenue Service Notice 2020-23 extends the filing deadline for most federal tax returns including individual and corporate income tax returns, partnership returns, estate and trust returns, estate, gift, and generation skipping transfer 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 13, 2020 Governor Murphy’s office stated he would sign The COVID-19 Fiscal Mitigation Act, (S.B. 2338) into law. This law will extend many New Jersey tax filing and payment deadlines.
New Jersey individual gross income tax, corporate, partnership, and trust tax return filing deadlines are all extended to July 15, 2020 as well as payments due thereunder including partnership filing fees. The law also extends the deadline for the payment first quarter estimated tax for individuals, trusts, and corporations to July 15, 2020. No penalties or interest will be imposed for returns filed by July 15, 2020.
The new law does not extend the deadline for payment of second quarter estimated tax due June 15, 2020 or New Jersey sales and use tax filings, payroll tax remittances or inheritance taxes.
Levine Staller’s tax attorneys will continue to monitor the status of the New Jersey legislation and update this blog post with further developments.