The Internal Revenue Service (IRS) today issued Notice 2020-20, which broadens the agency's prior payment and filing relief to cover gift and generation-skipping taxes.

Specifically, the guidance notes that for these taxpayers, "the due date for filing Forms 709 (United States Gift and Generation-Skipping Transfer Tax Return) and making payments of Federal gift and generation-skipping transfer tax due April 15, 2020, is automatically postponed to July 15, 2020." No interest, penalty, or addition to tax will accrue during this time period.
 
This grant of relief is automatic, meaning there is no need to file Form 8892 (Application for Automatic Extension of Time to File Form 709). "However, an Affected Taxpayer may choose to file Form 8892 by July 15, 2020, to obtain an extension to file Form 709 by October 15, 2020 (any Federal gift and generation-skipping transfer tax payments postponed by this notice will still be due on July 15, 2020)," the IRS explains. 

The text of Notice 2020-20 is posted here.

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