Federal Tax and Payment Deadline has been extended. The IRS, through a series of IRS Notices, has delayed certain tax return filings and payments due April 15, 2020 through July 15, 2020. Taxpayers (individuals and businesses, as well as trusts, estates, partnerships, corporations) were granted an extension of time to file certain US Federal tax returns for income tax and gift and generation skipping transfer taxes and pay 2019 taxes (and Q1 estimated tax payments) until July 15, 2020.
Further information on COVID-19 related State tax matters can be found by visiting our SALT SAVVY blog post, State and Local Tax Responses to COVID-19 and the corresponding webinar.
Baker McKenzie has put together a global resource center for all key insights and upcoming webinars as a central repository to assist our clients understand, prepare and respond quickly to the significant legal and business challenges posed by COVID-19. Please use the following link to visit the Coronavirus Resource Center for additional resources. Baker McKenzie understands that these times are challenging for all our clients and we want to assure you we are here to assist.