The IRS announced on March 18 in Notice 2020-17 that the date for making federal income tax payments normally due on April 15, 2020, is postponed to July 15, 2020. The postponement applies to amounts up to $1 million in the aggregate for non-corporate taxpayers, regardless of filing status (for instance, the limit applies equally to single filers and joint filers). For C corporations and consolidated groups, the postponement limit is $10 million in the aggregate.

This relief applies solely with respect to federal income tax payments (including payments of tax on self-employment income) due on April 15, 2020, for the 2019 taxable year, and federal estimated income tax payments (including payments of tax on self-employment income) due on April 15, 2020, for the 2020 taxable year. As a result of the postponement, no interest or penalties will begin to accrue on such payments until July 16, 2020.

The postponement affects payment of tax only and does not affect the timing for when returns must be filed. Taxpayers, however, may timely file for an extension.

The relief applies only to federal payments. Some states, including California and Connecticut, have enacted their own relief from filing and/or payment deadlines.