Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

FILING EXTENSION FOR S-CORP RETURN AFTER PANDEMIC EXTENDED DEADLINE FOR FILING

Highlighted
Level 1
last updated ‎June 08, 2020 6:07 PM

I am trying to file an extension for 2019 S-Corp return in Pro Series but I keep getting error for filing 7004 form and it keep saying that deadline is 3/16/20.  I understand that was the original deadline to file or file an extension.  However, I understand that all deadlines has been extended to July 15 or June 15 for Corporate return.  Can someone please let me know if there way to do this in 2019 Pro Series without error?  Thank you for your help and answers to this 

Labels (1)
12 Replies 12
Highlighted
Level 15
Level 15
last updated ‎June 08, 2020 6:07 PM

Returns with a due date after 3/31 got auto extended to 7/15....an SCorp extension would have been filed prior to 3./15.

Im not sure there is a way to file an SCorp extension late like that....


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Highlighted
Level 10
last updated ‎June 08, 2020 6:07 PM

You're late. March 15 deadlines didnt get extended to July 15.

** I'm still a champion... of the world! Even without The Lounge.
Highlighted
Level 15
Level 15
last updated ‎June 08, 2020 6:07 PM

If they had a due date of April 1st or later they were extended to July 15th...a calendar year partnership or Scorp return with a March 15th due date wouldn't count.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
Highlighted
Level 14
last updated ‎June 08, 2020 6:07 PM

There is confusion regarding the wording in Notice 2020-23(?) and the list of affected returns they put below it in the notice.


ex-AllStar
Highlighted
Level 12
last updated ‎June 08, 2020 6:07 PM

"IR-2020-66, April 9, 2020

WASHINGTON — To help taxpayers, the Department of Treasury and the Internal Revenue Service announced today that Notice 2020-23 (PDF) extends additional key tax deadlines for individuals and businesses.

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. No late-filing penalty, late-payment penalty or interest will be due.

Today’s notice expands this relief to additional returns, tax payments and other actions. As a result, 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."

The window opened April 1. Before that, you were supposed to stay on schedule as usual.

*******************************
"Level Up" is a gaming function, not a real life function.
Highlighted
Level 2
last updated ‎June 08, 2020 6:07 PM

I just read through the Notice and it is in there that those with deadlines after April 1 are included in the postponed deadline.  I feel that including the 1120-S in the list of those with the new deadline is very misleading.  Also, I read notices every day about changes related to Coronavirus and I have never seen anything explaining or emphasizing that an extension from the July 15th deadline would not be allowed.  I can only hope that the IRS will not impose penalties on the late filings because of the confusion this has caused.   

0 Cheers
Highlighted
Level 15
Level 15
last updated ‎June 08, 2020 6:07 PM
The law didnt even get approved until March 21st...the Partnership and S-Corp due date had already passed, you were already 6 days late.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Highlighted
Level 4
last updated ‎June 08, 2020 6:07 PM

That is what really gets me. The due date for those extensions was BEFORE the law was enacted. Yet, the people acting this question, for some reason, just flat failed to file an extension. The notice everyone keeps referring to (Notice 2020-23) is confusing, BUT NOT if you pay attention to what the definition of an Affected Taxpayer is. Those with returns due between April 1 and July 15.

Also, the IRS has a FAQ on this very subject which specifically says NO to the 1065 and 1120-S filers that were due 3/16/20. The FAQ also specifically states that it has been updated to account for Notice 2020-23.

Highlighted
Level 2
last updated ‎June 08, 2020 6:07 PM

Thank you for the lecture.  I have been sufficiently admonished. 

0 Cheers
Highlighted
Level 14
last updated ‎June 08, 2020 6:07 PM

 I would argue reasonable cause due to the conflicting language in Notice 2020-23. Don't know if it will work.

Meanwhile you could mail that extension.


ex-AllStar
Highlighted
Level 12
last updated ‎June 08, 2020 6:07 PM

"Meanwhile you could mail that extension"

It's easier to ask for forgiveness than it is to get permission.

- Admiral Grace Hopper, the inventor of the COBOL computer coding language

*******************************
"Level Up" is a gaming function, not a real life function.