BIR Revenue Memorandum Circular No. 37-2020
REVENUE MEMORANDUM CIRCULAR NO. 37-2020 issued on April 6, 2020 addresses the concerns of taxpayers relative to the filing of tax returns and payment of taxes before the extended deadline. Taxpayers who file their tax returns within the original deadline or prior to the extended deadline can amend their tax returns at any time on or before the extended due date. An
amendment that will result to additional tax to be paid shall not be subject to corresponding penalties (surcharge, interest and compromise penalties) if the same is done not later than the extended deadline, as provided under existing rules and regulations. A taxpayer whose amended returns will result to overpayment of taxes paid can opt to carry over the overpaid tax as credit against the tax due for the same tax type in the succeeding periods’ tax returns, aside from filing for claim for refund. Since the January 2018 version of BIR Form 1701 [Annual Income Tax Return for Individuals (including Mixed Income Earner), Estates and Trusts] is not yet available in the Electronic Filing and Payment System (eFPS), eFPS filers shall use the Offline eBIRForms Package Version 7.6. Consequently, payment for Income Tax liability shall be made through manual payment or online payment, as prescribed under existing rules and regulations.