As a follow-up to its announcement that the April 15 income tax filing deadline is extended to July 15, the Internal Revenue Service has created a series of Frequently Asked Questions to address common questions that may arise from taxpayers and tax professionals. The categories addressed by these FAQs are the following:
- Eligibility for Relief
- Filing and paying your 2019 Federal income taxes and your first quarter 2020 Federal estimated income taxes
- Individual Retirement Accounts (IRAs) and workplace-based retirement plans
- Health Savings Accounts (HSAs) and Archer Medical Savings Accounts (MSAs)
- Other questions
The IRS page states that the FAQs will be updated periodically and are “designed to be a flexible tool to communicate information to taxpayers and tax professionals in this changing environment.” Note that the FAQs are intended to provide responses to general inquiries and are not citable as legal authority. The Treasury Department and IRS are continuing to consider whether to issue additional IRB guidance on these issues addressed in these FAQs.
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