United States

IRS extends the deadlines for certain tax credit filings

TAX ALERT  | 

IRS Extends Deadlines Related to Certain Tax Credits

Notice 2020-23 automatically extends deadlines related to all time-sensitive actions that had previously been listed in Rev. Proc. 2018-58, as a result of the COVID-19 public health emergency being declared a federal disaster. Among those time-sensitive actions are certain actions related to tax credits, as described in section 15 of the Revenue Procedure. This includes actions related to the following tax credits:

  • Low-income housing tax credit (LIHTC) – certain measurement periods, certifications and elections;
  • Historic rehabilitation credit – certain certifications; and 
  • Work opportunity tax credit (WOTC) – 28-day period to file Form 8850 pre-screening certification to the State employment security agency.

Notice 2020-23 provides that any deadline that would have fallen between April 1 and July 14, 2020, is automatically extended to July 15, 2020. Therefore, any deadlines that would have fallen in the above time range, as they relate to the time-sensitive actions of tax credits listed in Rev. Proc. 2018-58, will see a welcome extension. 

Multiple other payment deadlines and filing extensions were extended under Notice 2020-23 as well, please see Overview of relief provided by Notice 2020-23 for more information. 

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