Tax Alert: COVID-19 RELATED RELIEF - TAX-EXEMPT DEBT FILINGS
April 15, 2020
On April 9, 2020 the IRS released Notice 2020-23 granting wide relief for filing certain tax and information returns and making tax payments, including provisions specifically related to filings for tax-exempt debt and tax and information returns for Section 501(c)(3) organizations. Notice 2020-23 expands relief provided by prior notices extending tax-related deadlines because of the COVID-19 pandemic. Specifically, Notice 2020-23 extends deadlines for certain time-sensitive actions listed in Revenue Procedure 2018-58, including, but not limited to, postponing the due date to July 15, 2020 for returns and payments originally due between April 1 and July 15, 2020 for:
- Filing of Form 8038 and 8038-G
- Filing of Form 8038-T and making any rebate or yield reduction payments due
- For Section 501(c)(3) organizations, filing of Form 990, 990-PF, 990-T and the payment of any tax due
For additional information on how this COVID-19 relief relates to your organization, please contact your BLX representative.
