IRS extends tax deadline to July 15 from April 15

Robert F. Bukaty | AP

Robert F. Bukaty | AP

April 15 is known as the due date for individual returns (and some state returns), but that is not always the case, especially this year when the date has been pushed back until July 15 because of the coronavirus pandemic.

US Treasury Secretary Steven Mnuchin announced Friday the federal tax filing deadline will move from April 15th to July 15th this year.

An all-India body of Indian Revenue Service officers has said that the Income Tax Department is "proactively pursuing" the government to extend the statutory March 31 deadline to complete important tax-related works due to coronavirus outbreak.

This relief is available exclusively with respect to federal income tax payments (including payments of tax on self-employment income) and Federal income tax returns due on April 15, 2020 in respect of a taxpayer's 2019 taxable year and Federal estimated income tax payments (including payments of tax on self-employment income) due on April 15, 2020 for the taxpayer's 2020 taxable year.

Many states are extending their filing deadlines to match the new deadline for filing federal returns. But given Mujica's public statement, state taxpayers are probably safe from any late fees or interest as long as they file their returns and pay any taxes owed by July 15. This payment relief applies to all individual returns, including self-employed individuals, and all entities other than C-Corporations, such as trusts or estates. Taxpayers do not need to file any additional forms or call the IRS to qualify for the federal extension. Mnuchin said all taxpayers and businesses will have additional time to file and make payments without interest or penalties.

Taxpayers who are expecting a tax refund should still file their returns as soon as possible. The IRS said most tax refunds are still being issued within 21 days.

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