On March 20, 2020, the Internal Revenue Service (IRS) released Notice 2020-18 (the "IRS Notice"), which provides relief from federal income tax payment and filing deadlines to U.S. taxpayers in light of the COVID-19 emergency. The IRS Notice supersedes Notice 2020-17, which had postponed the due date for certain federal income tax payments from April 15, 2020, until July 15, 2020. The IRS Notice restates and expands upon the relief provided in Notice 2020-17.

The IRS Notice provides relief to any individual, trust, estate, partnership, association, company or corporation with a federal income tax payment or a federal income tax return due April 15, 2020. For any such taxpayers, the due date for making federal income tax payments or for filing federal income tax returns is automatically postponed from April 15, 2020, to July 15, 2020. Such taxpayers do not have to file a Form 4868 or Form 7004 to obtain this relief. In addition, there is no limitation on the amount of the federal income tax payment that may be postponed.

Interest, penalties and additions to tax with respect to such postponed federal income tax payments and filings will begin to accrue on July 16, 2020.

The relief provided by the IRS Notice only applies to federal income tax returns and federal income tax payments (including payments of tax on self-employment income) due on April 15, 2020, in respect of a taxpayer's 2019 tax year, and federal estimated income tax payments (including payments of tax on self-employment income) due on April 15, 2020, for a taxpayer's 2020 tax year. No extension is provided for the payment or deposit of any other type of federal tax, or for the filing of any federal information return.

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