In light of BIR Bank Bulletin No. 2020-08, taxpayers were granted an important adjustment regarding the filing of their Annual Income Tax Returns (AITR) for the year 2020.

Here’s what you need to know:

Extended Deadline

Since June 14, 2020 fell on a Sunday, the Bureau of Internal Revenue (BIR) allowed AITR filings to be accepted until Monday, June 15, 2020. This extension aligns with existing BIR policies that permit the next working day as the deadline when the original due date falls on a weekend or holiday.

Extended Banking Hours

To accommodate the influx of last-minute filers, banks were instructed to operate with extended banking hours until 5:00 PM on June 15.

Still Within Premises? You’re Safe

Taxpayers already within the bank premises by 5:00 PM were still allowed to proceed with their transactions, even after cutoff. This ensured that those who arrived on time wouldn’t be penalized due to long queues or operational delays.

Why This Matters

Every year, the deadline for filing AITR is a critical compliance checkpoint for businesses and individuals alike. Missing it can result in penalties, surcharges, and interest, so updates like this can provide much-needed relief for taxpayers racing against the clock.

Tips for Future Filing:

1. File early to avoid long lines and system downtimes.
2. Keep track of weekends and holidays to anticipate filing extensions.
3. Consider online tax filing options or hire a professional to streamline the process.

For updated tax advisories and personalized assistance, feel free to Bong Corpuz & Co. CPAs. We’ll make sure your filings are timely, accurate, and stress-free.