Please note: This blog post supersedes previous blog posts on this topic and the email sent to our clients on 3.20.20 announcing the changes to the filing deadline. Additional details and changes have since been issued, particularly for Minnesota, those updates are reflected in this post. We apologize for any confusion.
Here is a quick summary of the filing and payment extension announcements from MNDOR and the IRS as of 3/25/20:
Minnesota
- The 2019 individual income tax filing deadline of April 15, 2020 is automatically extended until July 15, 2020.
- Unlike the IRS, the Minnesota filing and payment extensions only apply to individual income tax. Fiduciary and business filings and payments are still due April 15. If you require additional time to file, please contact DHA for an extension.
- Individual taxpayers can also defer state income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed.
- This relief is automatic, individual taxpayers do not need to file any additional forms or take any action to qualify.
- All MN quarterly estimated tax payments for tax year 2020 are still due on their original due dates. Please reach out to your DHA professional with questions about MN estimates.
- For full details on MNDOR’s response to COVID-19, please see their website.
IRS
- The 2019 income tax filing deadline for all taxpayers (individual returns, trusts, and corporations) who file and pay their Federal income taxes on April 15, 2020, are automatically extended until July 15, 2020.
- Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.
- Q1 estimated tax payments for tax year 2020 previously due April 15, 2020 are now due July 15.
- This relief is automatic, taxpayers do not need to file any additional forms or call the IRS to qualify.
- Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020. You will automatically avoid interest and penalties on the taxes paid by July 15.
- Individual taxpayers or Businesses who need additional time to file beyond the July 15 deadline can request a filing extension. Please contact DHA and we will complete this for you.
- For full details on the IRS’s response to COVID-19, please see their website or Filing and Payment Deadline Q&A page