COVID-19 and Tax Filings

Individual Filers:

Federal:

  • The due date for filing Federal income tax returns has been delayed 90 days. The new filing due date for individual income tax returns is July 15, 2020. 

  • Federal income tax payments (regardless of amount owed) normally due on April 15th, 2020 have an extended due date of July 15th, 2020 (free of penalties and interest). First quarter estimated income tax payments normally due on April 15th, 2020 have an extended due date of July 15th, 2020 (free of penalties and interest).
    https://www.irs.gov/newsroom/payment-deadline-extended-to-july-15-2020

  • More information can be found on the I.R.S. website:
    https://www.irs.gov/coronavirus

Minnesota:

  • Effective March 23rd, 2020, Minnesota individual income tax returns and related tax payments have an extended due date of July 15th, 2020. The extended grace period does not include state estimated tax payments. As a result, Minnesota first quarter estimated payment are still due April 15, 2020. Updates to the Minnesota income tax filing deadline and payment due dates can be found on the Minnesota Department of Revenue’s website:
    https://www.revenue.state.mn.us/our-response-covid-19

Non-individual Filers:

Federal:

  • Corporate federal income tax payments (regardless of amount owed) normally due on April 15th, 2020 have an extended due date of July 15th, 2020 (free of penalties and interest).
    https://www.irs.gov/newsroom/payment-deadline-extended-to-july-15-2020

  • The U.S. Small Business Administration has declared that non-individual filers in states affected by the recent COVID-19 pandemic may qualify for Disaster Loan Assistance. More information regarding Disaster Loan Assistance can be found on the U.S. Small Business Administration's website.
    https://disasterloan.sba.gov/ela/Declarations

Minnesota:

  • Restaurants, bars and other businesses impacted by the temporary closures are offered a 30-day grace period for paying sales and use tax. Effected businesses with sales tax liability typically due and payable on March 20th, 2020 have an extended payment due date of April 20th, 2020 (free of penalties and interest). Sales and use tax returns should still be filed timely, however a payment is not needed.
    https://www.revenue.state.mn.us/sales-and-use-tax

  • Workers effected by COVID-19 have full access to the Unemployment system through MNUI. Additional details can be found on the Minnesota Unemployment Insurance website: 
    https://www.uimn.org/employers/employer-account/news-updates/covid-19.jsp

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