• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar

McCarter & English Logo

  • People
  • Services
  • Insights
  • Our Firm
    • Leadership Team
    • Social Justice
    • Diversity, Equity & Inclusion
    • Pro Bono
    • Client Service Values
    • Alumni
  • Join Us
    • Lawyers
    • Summer Associates
    • Patent Professionals
    • Professional Staff
    • Job Openings
  • Locations
    • Boston
    • Philadelphia
    • East Brunswick
    • Indianapolis
    • Stamford
    • Hartford
    • Trenton
    • Miami
    • Washington, DC
    • New York
    • Wilmington
    • Newark
  • Share

Share

Browse Alphabetically:

  • A
  • B
  • C
  • D
  • E
  • F
  • G
  • H
  • I
  • J
  • K
  • L
  • M
  • N
  • O
  • P
  • Q
  • R
  • S
  • T
  • U
  • V
  • W
  • X
  • Y
  • Z
  • All
Bankruptcy, Restructuring & Litigation
Blockchain, Smart Contracts & Digital Currencies
Business Litigation
Cannabis
Coronavirus Resource Center
Corporate
Crisis Management
Cybersecurity & Data Privacy
Delaware Corporate, LLC & Partnership Law
Design, Fashion & Luxury
E-Discovery & Records Management
Energy & Utilities
Environment & Energy
Financial Institutions
Food & Beverage
Government Affairs
Government Contracts & Global Trade
Government Investigations & White Collar Defense
Healthcare
Hospitality
Immigration
Impact Investing
Insurance Recovery, Litigation & Counseling
Intellectual Property
Labor & Employment
Life Sciences
Manufacturing
Products Liability, Mass Torts & Consumer Class Actions
Public Finance
Real Estate
Renewable Energy
Sports & Entertainment
Tax & Employee Benefits
Technology Transactions
Transportation, Logistics & Supply Chain Management
Trusts, Estates & Private Clients
Venture Capital & Emerging Growth Companies
  • Broadcasts
  • Events
  • News
  • Publications
  • View All Insights
Search By:
Media item displaying IRS Extends More Tax Deadlines in Notice 2020-23
Main image for IRS Extends More Tax Deadlines in Notice 2020-23
Publications|Alert

IRS Extends More Tax Deadlines in Notice 2020-23

Coronavirus Legal Advisory

4.15.2020

On April 9, 2020, the Internal Revenue Service (“IRS”) released Notice 2020-23, amplifying the coronavirus-related tax relief recently provided in Notices 2020-18 and 2020-20. 

Notice  2020-23 automatically postpones (without the need to file for any extension) each of the following deadlines until July 15, 2020, provided that the deadline otherwise would have occurred on or after April 1, 2020, and before July 15, 2020:

(i) The due date for an expansive list of tax returns, tax payments, forms, elections and schedules (as further described in the chart below);

(ii) The performance or filing of the following specified time-sensitive actions: (a) filing petitions with the United States Tax Court (“Tax Court”); (b) filing for a review of decision rendered by the Tax Court; (c) filing a claim for credit or refund of any tax; and (d) bringing a suit upon a claim for credit or refund of any tax;

(iii) The making of an investment in a qualified opportunity fund due to be made during the 180-day “rollover” period described in Section 1400Z-2(a)(1)(A) of the Internal Revenue Code of 1986, as amended (the “Code”); and

(iv) The performance of over 250 time-sensitive actions listed in Revenue Procedure 2018-58, including, by way of just a few examples: (a) numerous elections relating to the adoption and change of accounting methods; (b) compliance with certain timing requirements of Code Section 1031 like-kind exchanges; (c) a lessee’s expenditure of funds on “qualified long-term real property” for purposes of the safe harbor exclusion for lessee construction allowances under Code Section 110; (d) certain elections regarding the nonrecognition of gain upon the involuntary conversion of property under Code Section 1033; (e) an election to “roll over” gain from the sale of qualified small business stock under Code Section 1045; (f) elections under Code Section 338(h)(10); (g) numerous provisions affecting employee benefit plans, exempt organizations and tax-exempt bonds; and (h) various elections involving trusts and estates.

In recognition of the fact that the IRS may have difficulty accessing documents, systems or other resources necessary to perform its administrative responsibilities under the Code, the Notice also grants the IRS a 30-day extension to perform the following time-sensitive actions with regard to “Affected Taxpayers” (as defined below): (i) assessing any tax; (ii) giving or making any notice or demand for the payment of any tax, or with respect to any liability to the United States in respect of any tax; (iii) collecting by levy or otherwise of the amount of any liability in respect of any tax; (iv) bringing suit by the United States, or any officer on its behalf, in respect of any liability in respect of any tax; (v) allowing a credit or refund of any tax; and (vi) any other act specified in a revenue ruling, revenue procedure, notice, or other guidance published in the Internal Revenue Bulletin. For this purpose, “Affected Taxpayers” include the following persons: (a) those currently under examination; (b) those whose cases are with the Independent Office of Appeals; and (c) those who, during the period beginning April 6, 2020, and ending before July 15, 2020, file amended returns or submit payments with respect to a tax for which the time for assessment would otherwise expire during this period. 

The tax payment and tax return filing obligations postponed until July 15, 2020 (some of which had already been announced in Notices 2020-18 and 2020-20) are set forth below: 

Specified Taxes and Tax ReturnsForms
Individual income tax payments and tax returnsForms 1040, 1040-SR, 1040-NR, 1040-NR-EZ, 1040-PR and 1040-SS
Corporate income tax payments and tax returns (calendar year or fiscal year)Forms 1120, 1120-C, 1120-F, 1120-FSC, 1120-H, 1120-L, 1120-ND, 1120-PC, 1120-POL, 1120-REIT, 1120-RIC, 1120-S and 1120-SF
Partnership tax returns
(calendar year or fiscal year)
Forms 1065 and 1066 (REMIC)
Estate and trust income tax payments and tax returnsForms 1041, 1041-N and 1041-QFT
Estate and generation-skipping transfer tax payments and tax returnsForms 706, 706-NA, 706-A, 706-QDT, 706-GS(T), 706GS(D) and 706-GS(D-1)
Estate and generation-skipping transfer tax returns filed pursuant to Rev. Proc. 2017-34Form 706
Information return regarding beneficiaries acquiring property from a decedentForm 8971
Gift and generation-skipping transfer tax payments and tax returnsForm 709
Estate tax payments of principal or interest due as a result of an election under Sections 6166, 6161 or 6163 of the Code and annual recertification requirements under Section 6166 of the Code.N/A
Exempt organization business income tax and other payments and return filingsForm 990-T
Excise tax payments on investment income and related tax returnsForms 990-PF and 4720
Quarterly estimated income tax payments and related tax returnsForms 990-W, 1040-ES, 1040-ES(NR), 1040-ES(PR), 1041-ES and 1120-W

The postponement of filing deadlines to July 15, 2020, also applies to: (A) all schedules, returns and forms that are filed as attachments to any of the foregoing specified tax returns, including Schedule H and SE, as well as Forms 3520, 5471, 5472, 8621, 8858, 8865 and 8938, (B) any elections that are made or required to be made on such specified tax returns (or attachments thereto), and (C) any installment payment due under Section 965(h) on or after April 1, 2020, but before July 15, 2020. Although Notice 2020-23 does not extend the due date for filing FinCEN Form 114, Report of Foreign Bank Account Reports (“FBAR”), previously issued guidance provides taxpayers with an automatic extension of time to file the FBAR until October 15.

sidebar

pdfemail

Related People

Media item: Alan F. Kornstein
Alan F. Kornstein

Partner

Media item: Jeffrey S. Muller
Jeffrey S. Muller

Partner

Media item: Stephen M. Vajtay, Jr.
Stephen M. Vajtay, Jr.

Partner

Media item: Lawrence A. Sannicandro
Lawrence A. Sannicandro

Partner

Related Services

Coronavirus Resource Center
Tax & Employee Benefits
Subscribe to our Insights
McCarter & English, LLP
Copyright © 2023 McCarter & English, LLP. All Rights Reserved.
  • Login
  • Attorney Advertising
  • Privacy
  • Awards Methodology
  • Contact
  • Subscribe
  • Sitemap

The McCarter & English, LLP website is for informational purposes only. We do not provide legal advice on this website. We can provide legal advice only to our clients in specific inquiries that they address to us. If you are interested in becoming a client, please contact us, but do not send any information about your specific legal question. We cannot serve as your lawyers until we establish an attorney-client relationship, which can occur only after we follow procedures within our firm and after we agree to the terms of the representation.

Accept Cancel