News & Analysis as of September 5, 2025

Filing Requirements

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Proposed Rule Modifies Timing of "Hot Asset" Reporting

Holland & Knight LLP on 8/22/2025

Generally, gain or loss on the sale or exchange of a partnership interest is treated as capital gain or loss except to the extent of so-called "hot assets." Gain attributable to hot assets – generally unrealized receivables...more

Federal Tax Deadline for Individuals Extended to May 17

Gibney Anthony & Flaherty, LLP on 3/18/2021

The Treasury Department and Internal Revenue Service has announced that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021 to May 17, 2021. The IRS...more

IRS Temporarily Allow Use of Electronic signatures

Mitchell, Williams, Selig, Gates & Woodyard,... on 4/1/2020

In an Internal Revenue Service (IRS) interim guidance memorandum authored by Sunita Lough, Deputy Commissioner, Services and Enforcement, the IRS has temporarily approved the acceptance of “signature images” and “digital...more

The Secretary of Treasury Selects April 1 as the Effective Date for purposes of the Tax Credits under the Families First...

Seyfarth Shaw LLP on 3/28/2020

Seyfarth Synopsis: The tax credits afforded to certain employers and self-employed individuals by the Families First Coronavirus Response Act (FFCRA) are in effect for the period from April 1, 2020 to December 31, 2020. ...more

COVID-19 Officially Extends This Year’s Tax Day to July 15, 2020, & Taxpayer Assistance Centers Closed

Clark Hill PLC on 3/26/2020

This newsletter was updated March 25 to reflect new information released by the IRS. On March 21, 2020, the IRS released IRS Notice 2020-58, which replaces all earlier announcements concerning extended deadlines discussed in...more

IRS Provides COVID-19 Related Filing and Payment Relief

Conn Kavanaugh on 3/26/2020

March 24, 2020 As COVID-19 has been disrupting our personal and professional lives, the April 15 tax deadline continued to loom on the horizon. In welcome news for many, on Friday, Treasury Secretary Steven Mnuchin announced,...more

New York State Extends Tax Filing Date in Lockstep with Federal Deadline Extension

Ballard Spahr LLP on 3/24/2020

Following U.S. Treasury Secretary Steve Mnuchin’s announcement via Twitter on Friday, March 20, that Treasury would be moving Tax Day from April 15 to July 15, New York Governor Andrew Cuomo’s Budget Director Robert Mujica...more

Alert: Treasury Moves Return Filing Deadline to July 15

Cooley LLP on 3/23/2020

On March 20, 2020, the US Department of the Treasury extended the deadline for filing 2019 federal income tax returns to coincide with the extended deadline for making federal income tax payments. Accordingly, the due date...more

Federal and State Governments Begin to Provide Economic Assistance via Tax Relief in the Face of COVID-19 Economy Disruptions

Troutman Pepper Locke on 3/23/2020

Updated on March 20, 2020, 9:00 PM CDT - U.S. Treasury and States Tax Authorities Extend Due Dates - On March 20, 2020, the U.S. Treasury expanded taxpayer relief by extending the filing date by 90 days for Federal income...more

The IRS Moves Tax Day From April 15 to July 15, 2020

Snell & Wilmer on 3/23/2020

In the early hours of March 20, Treasury Secretary Steven Mnuchin announced that the Internal Revenue Service (IRS) has extended the deadline for filing of federal income tax returns to July 15, 2020. All individuals and...more

Income Tax Return Filing Deadline Now July 15th

Smith Debnam Narron Drake Saintsing & Myers,... on 3/23/2020

In its latest response to the COVID-19 pandemic, the U.S. Treasury Department today announced that the traditional income tax return filing deadline would be moved from April 15th, 2020 to July 15th, 2020....more

Oklahoma income tax filing dates delayed due to COVID-19

McAfee & Taft on 3/23/2020

The day after the Oklahoma Tax Commission followed the previous guidance issued by the Internal Revenue Service to allow taxpayers to defer income tax payments but not filing requirements, U.S. Treasury Secretary Steven...more

Income Tax Deadline Update: IRS Extends Filing Deadline for 90 Days Due to COVID-19

Morgan Lewis on 3/22/2020

Two days after extending by 90 days the deadline for payment of certain federal income taxes, on March 20, US Secretary of the Treasury Steven Mnuchin announced that the Internal Revenue Service will also extend the deadline...more

IRS Extends Tax Filing And Payment Deadline To July 15, 2020

A&O Shearman on 3/20/2020

On March 18, 2020, the IRS issued Notice 2020-17 announcing the extension of the due date for the payment of federal income taxes due April 15, 2020 until July 15, 2020, with no interest, penalties or additions to tax...more

Update: Treasury Department Extends Tax Filing Deadline to July 15

ArentFox Schiff on 3/20/2020

The Treasury Department extends the US federal tax filing deadline from April 15 to July 15. This week’s surge in the number of confirmed COVID-19 cases was accompanied by frequent responses at the federal level directed at...more

Federal Income Tax Payment and Filing Deadline Delayed to July 15 Amid COVID-19 Crisis

Akin Gump Strauss Hauer & Feld LLP on 3/20/2020

In guidance published March 18, 2020 (Notice 2020-17), the Internal Revenue Service (IRS) postponed the payment deadline from April 15, 2020, until July 15, 2020, for federal income tax payments (including payments of tax on...more

Weekly IRS Roundup December 23 – 27, 2019

McDermott Will & Schulte on 12/31/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 23 – 27, 2019. December 20, 2019: The Department of the Treasury’s Financial Crimes...more

Weekly IRS Roundup September 30 – October 4, 2019

McDermott Will & Schulte on 10/9/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 30 – October 4, 2019. September 30, 2019: The IRS published a draft of the tax year...more

IRS Announces End to Foreign Bank Account Disclosure Program: What Can You Do Now If You Still Have Unreported Foreign Bank...

Burr & Forman on 3/23/2018

The IRS recently announced it will be shutting down its successful Offshore Voluntary Disclosure Program (OVDP) for unreported foreign bank accounts and income. The program will end September 28, 2018. Under the OVDP, first...more

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