IRS extends deadline for micro-captive filing positions
The Internal Revenue Service (IRS) has extended the deadline for the micro-captive insurance filing positions from 4 May to 4 June 2020 due to the current COVID-19 pandemic.
In a statement, the IRS said that due to the current conditions, taxpayers may need additional time beyond the original deadline in May due date to provide written responses.
The IRS noted that those who received the letter do not need to reach out to the IRS to confirm the extension.
If additional time beyond 4 June is required, the IRS urged taxpayers to get in contact. The IRS said it will continue to monitor the situation, including the impact of current operations.