The Internal Revenue Service is postponing the date for filing gift tax and generation-skipping transfer tax returns and making payments until July 15, 2020, because of the novel coronavirus pandemic.
The IRS issued Notice 2020-20 on Friday, extending the relief it provided earlier this month on the tax-filing and payment dates for most other types of tax returns. The IRS also said the associated interest, additions to tax, and penalties for late filing or late payment will be suspended for the gift tax and generation-skipping transfer tax until July 15.
Srividya (Sri) serves Customer Insights Professionals. She leads a team of analysts focusing on helping businesses collect, manage, analyze, and apply customer data to win, serve, and retain customers. Specifically, her team focuses on advanced analytics, predictive analytics, customer analytics, business intelligence, and artificial intelligence.
Previously, Sri was a senior analyst on the Customer Insights team, focusing on customer analytics best practices and technologies, services, and analytical applications that help firms convert customer data into meaningful insights. Sri continues to help marketing clients address their customer analytics needs, map out customer intelligence requirements and strategies, and navigate the analytics technology and services landscape.
Previous Work Experience
Sri has over 10 years' experience in marketing and customer analytics, product management, marketing management, and business analysis on both the client and agency side. Prior to Forrester, she managed digital media measurement and analytics for multiple clients across verticals at Allen & Gerritsen, a Boston-based advertising agency. Previously, she worked at Cognizant, a global provider of information technology, consulting, and business process outsourcing services managing marketing communications programs. Prior to Cognizant, Sri worked at Sify Technologies — an India-based Internet service provider — managing the consumer broadband product portfolio including planning, executing, and measuring multichannel marketing campaigns.
Education
Srividya holds an M.S. in integrated marketing communications with a specialization in customer and marketing analytics from Northwestern University, Chicago, and an MBA from India.
Elizabeth St-Onge is a managing director, head of digital assets product and strategy in the investment banking division of TD Securities.
The relief is automatic and applies to any amounts due related to these types of returns. There’s no requirement to file for an extension and the three-month period between the original due date of April 15 and the new deadline of July 15 will be disregarded in terms of any interest, penalties or extra taxes for those who fail to file a Form 709 United States Gift and Generation-Skipping Transfer Tax Return by April 15.
Groups of tax and accounting professionals such as the American Institute of CPAs, the National Society of Accountants and the National Conference of CPA Practitioners have been pressing the IRS to provide additional forms of tax relief beyond the initial relief granted for tax payments from coronavirus victims.
