Tax Alert: NJ/NY Estimated Tax Payments Due on June 15, 2020

On March 21, the IRS postponed the tax filing deadline from April 15 to July 15. But New York and New Jersey didn't follow suit on all the tax deadlines. Here's what's due Monday.

On March 21, the Treasury Department directed the IRS to postpone the tax filing deadline from April 15 to July 15. Included in the extension was the filing of taxes for individuals, corporations, and trusts. First and second quarter estimated tax payments (due April 15 and June 15 respectively) were also extended to July 15. 

New York and New Jersey also postponed their tax filing deadlines until July 15 for individuals, corporations, and trusts. However, unlike the IRS, the states only postponed the tax filing date and first quarter estimated payment to July 15. The second quarter estimated tax payment is still due on June 15, this Monday.

This may cause some confusion for people as the states have decoupled from the Federal government. So to recap, for 2020, the tax filing due dates are as follows:

Due DateStateFederal
June 15, 2020Q2 NY/NJ Estimated Tax Payment
July 15, 20202019 NY/NJ Tax Return2019 Federal Tax Return
July 15, 2020Q1 NY/NJ Estimated Tax PaymentQ1 Federal Estimated Tax Payment
July 15, 2020Q2 Federal Estimated Tax Payment
September 15, 2020Q3 NY/NJ Estimated Tax PaymentQ3 Federal Estimated Tax Payment
January 15, 2021Q4 NY/NJ Estimated Tax PaymentQ4 Federal Estimated Tax Payment

Monday is June 15! If you have a State estimated tax payment due, make sure to get it in the mail by June 15.

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