IRS Extends Payments For First & Second Quarterly Estimates Until July 15th!

The Internal Revenue Service (IRS) recently issued Notice 2020-23 which provides new guidance regarding extensions for several tax form filings and payment obligations that are due between April 1, 2020 and July 15, 2020. Specifically, the new notice postpones all quarterly estimated income tax payments that are normally payable between April 1, 2020 and July 15, 2020 until July 15, 2020. As a result of this and prior guidance, a Taxpayer’s 1st and 2nd quarter estimates will now BOTH be due on July 15, 2020.

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