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COVID-19: Additional Resources

Taxes

T + T

Summary

As a result of COVID-19, the Federal and New York State filing deadlines have been moved to July 15th, 2020.

The IRS and NYC Department of Consumer Affairs have resources available for taxpayers.

IRS Response to COVID-19

PEOPLE FIRST INITIATIVE

The IRS is providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions. For more information visit: https://www.irs.gov/newsroom/irs-unveils-new-people-first-initiative-covid-19-effort-temporarily-adjusts-suspends-key-compliance-program.

RELIEF OPTIONS

Taxpayers are encouraged to go to https://www.irs.gov where they can find the latest updates about IRS services, explore free options to file or request an extension to file, find forms, tax help, refund status and payment option.

Federal Filing Deadline

The U.S. Treasury Department and Internal Revenue Service announced on March 21st that the federal income tax filing due date has been extended from April 15, 2020, to July 15, 2020. Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing relief.

Individual taxpayers who need additional time to file beyond the July 15th deadline, can request a filing extension by filing Form 4868 through their tax professional, tax software or using the Free File link on https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free, if a household’s income is less than $69,000. Businesses who need additional time must file Form 7004.

Taxpayers can also defer federal income tax payments due on April 15, 2020 to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers, as well as those who pay self-employment tax. Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic payment relief.

New York State Filing Deadline

NYS Department of Taxation and Finance is following the federal government and extending its tax filing deadline to July 15th. In addition, all related tax payments due on April 15, 2020, may be deferred to July 15, 2020, without penalties and interest, regardless of the amount owed.

Households with a 2019 income of $69,000 or less, are eligible to use Free File income tax software available at https://www.tax.ny.gov/pit/efile/default.htm to file a household’s federal and NYS income tax returns online.

To learn more visit: https://www.tax.ny.gov/press/alerts/nys-tax-response-to-covid-19.htm.

Tax Preparation Assistance

TAXPAYER ASSISTANCE CENTERS

In response to the national emergency, the IRS has temporarily closed all Taxpayer Assistance Centers and discontinued face-to-face service throughout the country until further notice. However, the IRS is continuing to process tax returns, issue refunds and assist taxpayers.

NYC DEPARTMENT OF CONSUMER AFFAIRS

The NYC Department of Consumer Affairs has suspended its in-person NYC Free Tax Prep services, although they may resume at a later date. Virtual Tax Prep is now available for eligible households. To find out more information, visit https://www1.nyc.gov/site/dca/consumers/file-your-taxes.page.