Level 11

Solved

2020 Estimated Tax Deferral?

Forum|Forum|6 years ago
March 20, 2020
2 replies
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Read all I can on the IRS website and other news outlets. Cannot find anything "authoritative" that 2020 1st and 2nd qtr 1040, 1041, etc,. estimated taxes are deferred to July 15th. Does the lack of info mean they are still due April 15th and June 15th?

ProSeries Professional

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Best answer by rbynaker

https://www.irs.gov/pub/irs-drop/n-20-17.pdf

https://www.irs.gov/newsroom/payment-deadline-extended-to-july-15-2020

Copied from another list I'm on:

April 15, 2020 File your tax return or submit an extension to file

June 15, 2020 Your 2nd quarter 2020 estimated payment is due

July 15, 2020 Your 2019 tax payment is due

July 15, 2020 Your 1st quarter 2020 estimated payment is due

sjrcpa

Level 15

Q1 is extended to July 15. Q2 is due June 15.

IRS Notice 2020-17

The more I know the more I don’t know.

dascpaAuthor

Level 11

I read that (see below) but others said Q2 also. For now I will agree with you Q2 is due before Q1.

"The relief provided in this section III is available solely with respect to Federal
income tax payments (including payments of tax on self-employment income) due on April 15, 2020, in respect of an Affected Taxpayer’s 2019 taxable year, and Federal estimated income tax payments (including payments of tax on self-employment income) due on April 15, 2020, for an Affected Taxpayer’s 2020 taxable year. The Applicable Postponed Payment Amounts described in this section III include, in the aggregate, all 3 payments described in the preceding sentence due on April 15, 2020 for such Affected Taxpayers."

sjrcpa

Level 15

Don't pay attention to what others say. Pay attention to what the IRS puts in writing.

The more I know the more I don’t know.

rbynakerAnswer

Level 13

https://www.irs.gov/pub/irs-drop/n-20-17.pdf

https://www.irs.gov/newsroom/payment-deadline-extended-to-july-15-2020

Copied from another list I'm on:

April 15, 2020 File your tax return or submit an extension to file

June 15, 2020 Your 2nd quarter 2020 estimated payment is due

July 15, 2020 Your 2019 tax payment is due

July 15, 2020 Your 1st quarter 2020 estimated payment is due

Z

zandw619

Level 4

I agree with your payment dates, but in Proseries I cannot enter those dates.

rbynaker

Level 13

@zandw619 wrote:
I agree with your payment dates, but in Proseries I cannot enter those dates.

That's due to what's called an IRS "Business rule" limitation. None of the software companies can change it unless/until the IRS updates their rules & systems. I'm not holding my breath, my clients will either be mailing a check with a 1040-V or paying online at IRS DirectPay.

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