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IRS Extends Over 300 Tax Filing, Payment and Admin Deadlines

According to Treasury Secretary Steven Mnuchin, “Treasury and the IRS are extending tax deadlines for fiscal year businesses, tax-exempt organizations and more than 270 other tax-related deadlines” in an effort to relieve taxpayers during the challenging times of COVID-19.

Last month, the IRS announced that taxpayers generally have until July 15, 2020, to file and pay federal income taxes originally due on April 15 without interest or penalties for late-filing or late-payment.

Today’s notice expands this relief, and the extensions “generally now apply to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020.”

“Individuals, trusts, estates, corporations and other non-corporate tax filers qualify for the extra time. This means that anyone, including Americans who live and work abroad, can now wait until July 15 to file their 2019 federal income tax return and pay any tax due,” according to the news release.

Some additional details:

Relief for tax-exempt organizations and fiscal year businesses
Tax returns and payments for tax-exempt organizations and fiscal year businesses due between April and June are postponed until July 15, 2020.

Estate taxes
Tax return and payment deadlines for estate taxes and associated gift taxes, typically due within nine months from the date of death, are postponed to July 15, 2020.

Administrative deadlines
For all taxpayers, Treasury and the IRS are extending an additional 270 administrative deadlines to July 15, 2020.

For the full notice, click here and please contact this office with any questions.

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Get to Know Prestige Accounting Services Group (previously Prestige Wealth Accounting Group)


Offices in Flemington, NJ and Califon, NJ

Our Mission: At Prestige Accounting Services Group (previously Prestige Wealth Accounting Group), we are on a mission to redefine the tax experience for individuals and small businesses. With a focus on personalized service, strategic planning, and expert guidance, we aim to empower our clients to succeed financially with confidence and ease.

Expertise in Action: With a wealth of experience and a team of dedicated professionals, we specialize in individual and small business tax preparation. While we excel in all areas of taxation, our passion lies in serving the unique needs of small business owners in New Jersey. We understand that small business taxation requires specialized knowledge and attention to detail, which is why we go above and beyond to ensure our clients receive the guidance and support they deserve.

Tailored Solutions for Every Client: Whether you're a high-net-worth individual seeking comprehensive tax planning or a small business owner in need of accounting and bookkeeping assistance, we have the expertise to meet your needs. Our team takes the time to understand your specific situation and develop customized solutions that align with your goals and objectives.

Why Choose Us?: What sets us apart from other New Jersey tax firms is our commitment to excellence and innovation in the field of taxation. We don't just prepare tax returns; we provide strategic insights, proactive planning, and actionable advice to help our clients achieve their financial goals. With a team of two CPAs, an EA, and an ERO, we have the expertise and resources to deliver exceptional service and results.

Your Success is Our Priority: At Prestige Accounting Services Group (previously Prestige Wealth Accounting Group), we measure our success by the success of our clients. We are dedicated to building long-lasting relationships, providing unparalleled service, and helping our clients thrive in today's ever-changing tax landscape.

We can't wait for you to experience the Prestige Accounting Services Group (previously Prestige Wealth Accounting Group) difference.

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