RMC No. 37-2020: Addresses the concerns of taxpayers relative to the filing of tax returns and payment of taxes before the extended deadline

Key points

1. Amending early-filed returns. Taxpayers who file within the original deadline or before the extended deadline may amend their returns at any time on or before the extended due date. An amendment that results in additional tax carries no surcharge, interest or compromise penalties if done not later than the extended deadline.
2. Overpayments. A taxpayer whose amended return shows overpaid tax can carry the overpayment over as credit against the same tax type in succeeding periods’ returns, besides filing a refund claim.
3. BIR Form 1701. The January 2018 version of BIR Form 1701 is not yet available in eFPS, so eFPS filers use the Offline eBIRForms Package Version 7.6. Income Tax liability is paid by manual or online payment as prescribed under existing rules.

Who is affected

• Taxpayers who filed before the extended deadline
• eFPS filers of BIR Form 1701

Deadlines and effectivity

• Amendments on or before the extended due date