In light of BIR Bank Bulletin No. 2020-08, taxpayers were granted an important adjustment regarding the filing of theirAnnual Income Tax Returns (AITR)for the year 2020.
Here’s what you need to know:
Extended Deadline
SinceJune 14, 2020fell on aSunday, theBureau of Internal Revenue (BIR)allowed AITR filings to be accepted untilMonday, 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 withextended banking hours until 5:00 PMon June 15.
Still Within Premises? You’re Safe
Taxpayersalready within the bank premises by 5:00 PMwere 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 inpenalties, surcharges, and interest, so updates like this can provide much-needed relief for taxpayers racing against the clock.
Tips for Future Filing:
- File earlyto avoid long lines and system downtimes.
- Keep track of weekends and holidaysto anticipate filing extensions.
- Consider online tax filing optionsor 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.
