The IRS issued its People’s First Initiative in March to address the COVID-19 situation and the impact it has had on many U.S. taxpayers. As part of this People’s First Initiative, the IRS extended the compliance dates for many filings, payments, elections and filings until July 15, 2020. The IRS website maintains a complete list of all relief provisions. A short list of some of the more relevant provisions include the following:
- Field, Office and Correspondence Audits – The IRS will generally not start new field, office and correspondence examinations until after July 15th, 2020.
- Field Collection Activities – Liens and levies (including any seizures of a personal residence) initiated by field revenue officers will be suspended until after July 15, 2020.
- Existing Installment Agreements –For taxpayers under an existing Installment Agreement, payments due between April 1 and July 15, 2020 are suspended.
- 2020 Tax Payments- Estimated tax payments for tax year 2020 that are due on April 15, 2020 extended to July 15, 2020.
- 2019 Tax Return Filing- The filing deadline for tax returns has been extended from April 15 to July 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible. For those who can’t file by the July 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request an extension to file their return.