Is the 1st 2020 quarterly still due on April 15? This means selling securities in a down market to cover that. What’s official? What’s your take?
No, estimated payments are no longer due on April 15, 2020.
As COVID-19 continues to impact the United States, the federal government is taking action to ease the burden on taxpayers. Most recently, the Internal Revenue Service (IRS) has issued guidance about payment relief – waiving penalty and interest on payments previously due on April 15, 2020. The guidance made clear that relief includes estimated tax payments for the tax year 2020 that are due on April 15, 2020. You can read more FAQs about payment relief in this piece.
It’s worth noting that the current Senate proposal would push all estimated tax payments to October 15, 2020. That is not yet law but it is being considered. You can find out more about the Senate bill here.
Finally, in case you didn’t see it, the filing deadline has (finally!) been pushed to July 15, 2020.
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