extended tax deadlines due to covid-19
Internal Revenue Service
On March 21, 2020, the Internal Revenue Service (IRS) issued Notice 2020-18. Under notice 2020-18, any person with a federal income tax payment or federal income tax return due April 15, 2020 is provided a 90 day extension until July 15, 2020. The term "person" includes an individual, trust, estate, partnership, association, or corporation. See the FAQs issued by the IRS for additional information.
North Carolina Department of Revenue
On March 23, 2020, the North Carolina Department of Revenue (NCDOR) issued guidance similar to that of the IRS. The NCDOR has provided a 90 day extension to July 15, 2020 for state income and franchise tax filings due on April 15, 2020. Payments made after April 15, 2020 and before July 15, 2020, will not be subject to a late payment penalty. However, barring a change in state law, interest will accrue on payments made after April 15, 2020.
On March 21, 2020, the Internal Revenue Service (IRS) issued Notice 2020-18. Under notice 2020-18, any person with a federal income tax payment or federal income tax return due April 15, 2020 is provided a 90 day extension until July 15, 2020. The term "person" includes an individual, trust, estate, partnership, association, or corporation. See the FAQs issued by the IRS for additional information.
North Carolina Department of Revenue
On March 23, 2020, the North Carolina Department of Revenue (NCDOR) issued guidance similar to that of the IRS. The NCDOR has provided a 90 day extension to July 15, 2020 for state income and franchise tax filings due on April 15, 2020. Payments made after April 15, 2020 and before July 15, 2020, will not be subject to a late payment penalty. However, barring a change in state law, interest will accrue on payments made after April 15, 2020.