Department of Revenue moves deadlines
More existing deadlines between April 1 and July 15, have been moved to July 15
STATEWIDE - The Wisconsin Department of Revenue announced that more filing and payment deadline dates will conform with recently released IRS Notice 2020-23, which makes it easier for taxpayers to comply. This notice automatically moves deadlines for filings and payments due between April 1 and July 15 to July 15, 2020. The Wisconsin Department of Revenue has updated information to reflect this most recent deadline change. Find it at revenue.wi.gov/Pages/TaxPro/2020/TaxDeadlinesExtendedCOVID.pdf.
"As we wait for the Wisconsin Legislature to act, it is helpful in the meantime to see the IRS and the Wisconsin Department of Revenue shift these additional deadlines to ease some of the burden individual and business taxpayers are feeling right now," stated Governor Tony Evers.Summary of the new guidance
Extensions for filing returns
• Income/franchise and pass-through withholding returns due on or after April 1, 2020, and before July 15, 2020 are extended to July 15, 2020.
Extensions for return payments
• Income/franchise and pass-through withholding tax due on or after April 1, 2020, and before July 15, 2020, will not accrue interest or penalties until July 16, 2020.
Waiver of underpayment interest on estimated payments
• UPI will not apply to income/franchise and pass-through withholding returns with a tax year ending on December 31, 2019, or returns that are due on or after April 1 and before July 15.
Extensions for estimated payments of income/franchise and pass-through withholding tax
• Estimated payments due on or after April 1, 2020, and before July 15, 2020 are extended to July 15. Note: First quarter estimated payments are generally due April 15 and second quarter estimated payments are generally due June 15.
Federal economic impact payments (stimulus payments)
• Federal economic impact payments are not taxable for federal or Wisconsin income tax purposes. The IRS will not use the payment to pay federal or state tax debts but will use it to pay past-due child support payments that the states have reported to the IRS (Treasury Offset Program Bulletin 2020-8).
"It is a very good thing that the IRS has now provided certainty on this issue of estimated quarterly payments," said Department of Revenue Secretary Peter Barca. " In this time of crisis, we at the Wisconsin Department of Revenue will continue to do whatever we can to assist individuals and small businesses."
The Wisconsin Department of Revenue notes that most services are found online at revenue.wi.gov
Find the most up-to-date information on COVID-19 in Wisconsin: wisconsin.gov/covid19.
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