The IRS announcement simply extends the due date of the 2020 Form 1040 and related tax payments from April 15 to May 17. The announcement does not extend the due date for:
- Estimated tax payments due on April 15 for any type of taxpayer
- Fiduciary income tax returns due on April 15, including those filed on Forms 1041, 1041-A, 5227 or 3520-A
- Calendar-year corporation returns due on April 15
- Fiscal-year exempt organization information returns (Form 990 series) due on April 15
- Gift tax returns (Form 709 series) due on April 15, which will require an extension separate from the Form 1040 extension
- Estate tax returns (Form 706)
She does have to file a Form 709, but she will not have to pay any tax. The U.S. has a unified gift and estate tax system at the federal level. Everyone has a lifetime exemption from gift and estate tax -- $11.58 million for 2020 and even after you use up your $15,000 annual exclusion, any remaining gift amount applies against your lifetime exemption amount.
