As is almost always the case with the wonderful tax systems in this country, even the simplest of concepts is more complicated and twisted than necessary.
Moving the 2020 Tax Day for 2019 tax returns to July 15 has already created a lot of confusion among taxpayers and tax practitioners. To remedy, or add to, the confusion, IRS has already published 24 FAQs related to this new date.
The University of Illinois TaxSchool has posted this video explanation of the IRS FAQs.
As the presenter says, these FAQs are fluid and will almost certainly be changed before July 15 comes around and as a result of items in the massive stimulus bill that is working its way through Congress.
One of the craziest answers from IRS is Q16 regarding the due date of the second estimated tax payment for 2020.
A16. No, second quarter 2020 estimated income tax payments are still due on June 15, 2020. First quarter 2020 estimated income tax payments are postponed from April 15 to July 15, 2020.
The second quarterly payment is due a month before the first payment. Does this make sense to anybody? In the Bizarro world of Washington DC, it probably does.
Tax Guru - Ker$tetter Letter 