Treasury Secretary Steven Mnuchin announced on Friday that tax returns normally due on April 15 will not be due until July 15 this year. The news came in a tweet, and the IRS has not yet issued official guidance on the move.
The Treasury secretary’s tweet read, “At [President Donald Trump’s] direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.”
On Wednesday, the IRS had announced in Notice 2020-17 that it was pushing back the deadline for federal tax payments due on 2019 and first quarter 2020 taxes (up to $1 million for individuals and up to $10 million for corporations) that were due on April 15 to July 15, but it did not at that time postpone any filing deadlines.
It is important to note that state tax filing deadlines do not necessarily comply with IRS. For example Maryland has delayed its filing and payment deadlines until July 15th, while Virginia and DC have not as of yet.
At KWC CPAs we will continue to work as diligently as possible under the circumstances to complete your tax return as soon as possible. Even if April 15th is not a hard deadline, we encourage you to not use the extended deadline to delay providing us your tax information.
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