The recent developments around the outbreak of Covid-19 have impacted every single person and business in Canada and abroad.
Recognizing the immediate need of taxpayers for relief during these pressing times, the CRA and the IRS have enacted slightly delayed deadlines. Below are tables that consolidate the information released and available to us as of March 31, 2020 pertaining to when you need to file returns and pay taxes.
Tax Returns and Payments for Tax Year 2019
United States – IRS
| Filer Status | Filing Due Date | Payment Due Date |
| Individuals and Trusts | ||
| U.S. Taxpayers with a permanent home in the U.S. | July 15, 2020 | July 15, 2020 |
| Canadians with U.S. Wages | July 15, 2020 | July 15, 2020 |
| U.S. Citizens with a permanent home in Canada | July 15, 2020 | July 15, 2020 |
| Canadians with no U.S. Wages (but with other U.S.-source income) | July 15, 2020 | July 15, 2020 |
| EXTENDED DUE DATE
File Form 4868 by the original return due date as listed above |
October 15, 2020 | N/A |
| Q1 & Q2 Installment | N/A | July 15, 2020 |
| Corporations | ||
| Calendar Year-End Filers (12/31/2019) | July 15, 2020 | July 15, 2020 |
| Fiscal Year-End Filers | 15th day following 3 months after year-end | Unknown |
| Foreign Corporations with no physical presence in the U.S. | 15th day following 5 months after year-end | N/A |
| EXTENDED DUE DATE
File Form 7004 by the original return due date as listed above |
Additional 6 months to the above original return due dates | N/A |
| Q1 & Q2 Installment | N/A | July 15, 2020 |
| Miscellaneous | ||
| Section 965 Tax (Transition Tax) 3rd Installment | N/A | July 15, 2020 |
| Form 709 | July 15, 2020 | July 15, 2020 |
| Form 3520 | July 15, 2020 | July 15, 2020 |
| 2019 IRA/Roth IRA contribution | July 15, 2020 | N/A |
| FinCEN 114 | October 15, 2020 | N/A |
NOTES:
- State extensions to file and pay vary from state to state.
- Payroll deduction remittances remain unchanged.
Tax Returns and Payments for Tax Year 2019
Canada – CRA
| Filer Status | Filing Due Date | Payment Due Date |
| Individuals | ||
| Non self-employed | June 1, 2020 | September 1, 2020 |
| Self-employed | June 15, 2020 | September 1, 2020 |
| Q2 Installment | N/A | September 1, 2020 |
| HST/GST | June 15, 2020 | June 30, 2020 |
| Trusts | ||
| Calendar year-end Filers (12/31/2019) | May 1, 2020 | September 1, 2020 |
| Filers with original due date in April or May | June 1, 2020 | September 1, 2020 |
| Corporations | ||
| Calendar year-end filers (12/31/2019) | June 30, 2020 | September 1, 2020 |
| Fiscal year-end filers whose original returns were due between 03/18/2020 and 05/31/2020 | June 30, 2020 | September 1, 2020 |
| Q2 Installment | N/A | September 1, 2020 |
| HST/GST for annual filers | June 15, 2020 | June 30, 2020 |
| HST/GST for original remittances due between 03/18/2020 and 05/31/2020 | original due date | June 30, 2020 |
| Miscellaneous | ||
| Part XIII – Nonresidents | May 1, 2020 | original due date |
| Partnership return | May 1, 2020 | N/A |
| NR4 Statement and Slips | May 1, 2020 | N/A |
| T1134 Reporting | May 1, 2020 | N/A |
NOTES:
Payroll deduction remittances remain unchanged
Where to find us
4-209 Speers Road
Oakville, ON, L6K 0H5
Canada
Contact Us
Meetings are by appointment only.
Phone: +1 855 640 1730
Local: +1 905 845 1194
Fax: +1 833-203-9641
Email: mail@hcbtax.com
