Extension Granted for Gift Tax Returns and Payments – No Extension for Form 3520

My earlier blog post detailed the extensions for filing and payment of US income taxes on account of the COVID-19 emergency.  Further relief was just granted on March 27 by the Internal Revenue Service (IRS) in Notice 2020-20 to all taxpayers who have Federal gift (and generation-skipping transfer) tax returns and payments due on April … Continue reading Extension Granted for Gift Tax Returns and Payments – No Extension for Form 3520

Tweets Rule…. Tax Filing Extended from April 15 to July 15 / What About FBAR?

While I was peacefully asleep in Dubai (we do have an 8 hour time difference to the East Coast of the USA), Secretary of the Treasury Steven Mnuchin announced in a tweet that “Tax Day” is being moved from April 15 to July 15.  For those who fear that Tweets may not be a reliable … Continue reading Tweets Rule…. Tax Filing Extended from April 15 to July 15 / What About FBAR?