By: Yaritza Portalatín-Méndez, Esq.

The Treasury Department and the Internal Revenue Service announced on March 21, 2020 that the federal income tax filing due date has been automatically extended from April 15, 2020, to July 15, 2020 without the need to file a request of extension.  Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed.  This is applicable to individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.

The Governor of Puerto Rico recently announced in a press conference that the Puerto Rico Income tax returns and payments will also be extended to July 15, 2020.  This due date extension was confirmed by the Secretary of the Treasury of Puerto Rico, Francisco Parés.

This publication is a summary of recent pronouncements referred to herein and is not intended to substitute legal advice.  We encourage you to contact us or your tax advisor if you have any questions or need assistance regarding any of the matters presented herein.  An attorney-client relationship with Pellot-González, P.S.C. cannot be formed by reading or responding to this memorandum.  Such a relationship may be formed only by express agreement with Pellot-González, P.S.C.