It’s Official! (Part II) – Tax Day For Gift Tax Returns is Now July 15, 2020

Today, the IRS released Notice 2020-20 amplifying the relief provided in Notice 2020-18 by postponing to July 15, 2020 the due day to file a Form 709 (United States Gift and Generation-Skipping Transfer Tax Return) or pay Federal gift tax or generation-skipping transfer tax that was due on April 15, 2020.  This brings conformity to the due dates for Federal gift and generation-skipping  transfer tax and Federal income tax returns and  payments.

The extension of time is automatic; taxpayers are not required to file a Form 8892 for extensions to file Form 709 on July 15, 2020.  However, a taxpayer needs to file an extension to extend the time to file the Form 709 to October 15, 2020.