At first, it was a trickle. Now, the spillway has busted (only part) wide open. IRS (in Notice 2020-23 and others) has unleashed a torrent of tax payment and filing deadlines for anything due from April 1 through July 14, 2020. And, anything includes a lot.
 
HOWEVER, THE PROBLEM IS THIS:  NOT EVERYTHING THAT APPEARS TO BE EXTENDED HAS CLEARLY BEEN.  OTHER CRITICALLY IMPORTANT DEADLINES HAVE NOT BEEN EXTENDED.
 
What has IRS extended for both taxpayers and itself under permission of the Stafford Act Emergency Declaration? More than 139 pages of listed deadlines. But the extending language is messy and not everything’s included. SOME THINGS DO NOT HAVE JULY 15 DUE DATES. THOSE ARE THE THINGS THAT WILL BITE YOU.
 
We are all swimming in deadlines. How do we prioritize them? What did not get put off?  Those are the deadliest of all.
 
We’ve hacked through the 139 pages with a machete. Take a practical walk through the floodwaters with us through:
 

• Forms 1040, 1120, 1065, 990 series, 706 series, 1041 and many more


• Estimated tax payments (new relief)


• 1031 exchange and 1033 deadlines (120 days)


• Accounting method changes


• Charitable contribution documentation


• NOL carryback period, carryback claims, tax credits, protecting statutes


• Elections due on returns


• S Corp deadlines – Many including filing of S elections


• IRA and Qualified plan remedial periods and 5500 related deadlines


• Failure to deposit penalty deadlines


• Hundreds more