Indiana Spring Installment Property Tax Payment Automatic Extension
The Indiana Department of Local Government Finance (DLGF) issued an executive order on March 20, 2020, which provides an automatic payment extension without penalty for spring 2020 real and personal property tax payment installments that are normally due on or before May 11, 2020. The extension is for 60 days to July 10, 2020. Excluded from the extension are payments made by escrow accounts or mortgage companies.

IRS Grants Broad Coronavirus-Related Tax Relief
Taxpayers were granted additional, broad tax filing and payment deadline relief by the IRS late on Thursday, in line with relief requested by the American Institute of CPAs over the past several weeks amid the coronavirus pandemic. The new relief, issued in Notice 2020-23, applies to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020, including individuals, trusts, estates, corporations, and other noncorporate tax filers, and that period will be disregarded by the IRS in calculating any interest, penalty, or addition to tax for failure to file the forms specified in the notice.

Notice 2020-23 grants automatic relief to affected taxpayers — they do not have to file extensions or send documents to the IRS to obtain relief. The relief encompasses forms and their related schedules and attachments.

Estimated taxes: The notice postpones the June 15 deadline for estimated tax payments to July 15.

Unclaimed 2016 refunds: The deadline for filing a 2016 tax return to claim a refund, normally April 15, is
extended to July 15. The return must be postmarked by July 15.

Installment payments under Sec. 965(h): Installment payments of the Sec. 965 transition tax due on or
after April 1, 2020, and before July 15, 2020, are postponed to July 15, 2020.

American citizens living abroad: Americans who live and work abroad can now wait until July 15, 2020, to
file their 2019 federal income tax return and pay any tax due.

To read more about this update from the Journal of Accountancy, click here.