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April 13, 2020 - Phil Hodgen

Filing and tax payment deadlines for 2019 tax filings

The IRS can postpone deadlines when there is a Federally-declared disaster. IRC §7508A. We have one of those Federally-declared disasters right now, what with the coronavirus excitement and all of that.

The IRS, in a series of Notices, has given everyone until July 15, 2020 to do anything required to be done between April 1, 2020 and July 15, 2020.

Notices

These are the Notices that the IRS has issued so far to adjust filing deadlines and tax payment deadlines:

Tax Forms Identified

The following tax forms are impacted by Notice 2020-23 — to give an extension of time until July 15, 2020:

  • Form 1040-NR (for individuals; see the comment below about foreign trusts)
  • Form 1040-NR-EZ
  • Form 1120-F
  • Form 706-NA
  • Form 3520
  • Form 5471
  • Form 5472
  • Form 8621
  • Form 8858
  • Form 8865
  • Form 8938
  • There is a catch-all that applies to all of the Schedules and Forms that are to be attached to the basic tax return.

Form 3520-A: Nope!

Notice 2020-23 mentions the lovely and talented Form 3520 by name, but does not mention Form 3520-A. Why is that?

The filing deadline for Form 3520-A is the 15th day of the third month after the close of the trust’s taxable year. For a calendar year trust, that means a March 15, 2020 deadline.

The Notices grant relief for anything with a deadline between April 1, 2020 and July 15, 2020.  That means no relief for Form 3520-A filings.

If you haven’t filed Form 3520-A yet (or filed for an extension of time) . . . too bad, so sad.

Foreign Trusts: Form 1040-NR?

As far as I can tell, the Notices do not mention the filing of Form 1040-NR for a foreign trust’s Federal income tax return. The only mention of Form 1040-NR in Notice 2020-23 is for individual tax return payments and return filings.

This means we don’t know — with certainty — whether the filing deadline for a 2019 Form 1040-NR income tax return for a foreign trust will be extended by Notice 2020-23.

I know, I know. The Code says that you treat a foreign trust (for income tax purposes) as if it is a nonresident alien individual who never sets foot in the United States.

In theory, this should give you enough leeway to claim the extended filing deadline of July 15, 2020 for a foreign trust’s Federal income tax return.  I can hear you now:  “Hey! You said nonresident alien individuals received the July 15, 2020 deadline for filing their Form 1040-NRs. My foreign trust is treated like a nonresident alien individual for Federal income tax purposes. QED!”

And yet . . .

Me personally? I would assume the original filing deadlines stand for foreign trust income tax returns, and behave accordingly.

American Business Abroad Americans Living Abroad Foreign Business Activities in the USA Nonresidents with US Activities