Update, 3/20: Tax day will be moved from April 15th to July 15th. Everyone will be able to wait until then to file and pay without interest or penalties. Expect updated guidance from the IRS shortly.
At @realDonaldTrump’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.
— Steven Mnuchin (@stevenmnuchin1) March 20, 2020
Originally posted on 3/18:
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The IRS will allow individuals who owe $1MM or less in taxes and corporations that owe $10MM or less in taxes an extra 90 days from April 15th to pay, without any penalties or interest.
However the filing deadline will still remain April 15th.
If you need more time, don’t forget to file for an extension of time to file your return. That way you won’t face penalties for failing to file on time or failing to pay on time.
Of course if you have a refund coming, you’ll still want to file on time to get it sooner.
Reportedly Americans will also receive payments to help with Coronavirus. Let me know when the check is in the mail. 🙂
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35 Comments On "Tax Day Moved To July 15th!"
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I’m a tax preparer and for a refund u can file up to 3 years
Sure, but I’m talking about if you want to get the refund sooner.
Till when can a refund be claimed for 2016? April 15, or does the 90 day extension apply for that as well?
Enrolled Agent here:
April 15th is my very educated opinion.
If an extension was filed timely in 2017, October 15. You may be asked for proof of mailing of the extension.
If the extension was paper-filed.
I’m just wondering who confirmed the details. I didn’t see anything on the IRS’ website confirming the details of the relief.
Don’t forget about state taxes, NY for example hasn’t extended as of yet.
See states here. https://www.aicpa.org/content/dam/aicpa/advocacy/tax/downloadabledocuments/coronavirus-state-filing-relief.pdf
Check back as the list gets updated.
Your source, other than something Mnuchin tossed out at a press conference? I’ll believe it when I see it.
Results may vary, with state taxes.
Also, no mention of IRS quarterly payments due April 15 and June 15.
We’ll said. Trump just made him say it to boost the stock market that dropped significantly the day before!
Supposedly the 1st quarter estimate will be due July 15th but that doesn’t seem to make much sense since there is the June 15th estimate that will supposedly still be due!
If we actually receive a government “hand out” do you believe it will be treated as income and ultimately a taxable event?
I remember two “tax rebate” programs during economic crises, and I think for both you had to have filed a tax return, or received Social Security. There was not any cynicism about those programs, but then there was no Internet. True, people have three years to claim a refund — that’s the law, which Congress can change in a week, if they want.
Check is coming in the same envelope as the Equifax check.
It’s official
https://www.irs.gov/newsroom/payment-deadline-extended-to-july-15-2020
IRS Form 4868 (extension form) hasn’t been updated. Unclear how you are supposed to file as there is a line that says “Amount Paying now” and you aren’t paying now
Deadline was just moved to June 15
Sorry july 15
State taxes ? Seems to not help much if we still need to file state
Most states will mirror the IRS guidelines. Stay tuned.
What state also extended?
Does that.mean nobody has to file an extension now either?
Not unless you need longer than July 15th.
Just to clarify, I DONT need to file for an extension. It’s automatically July 15th without applying for an extension. Correct?
Just making sure since you wrote “If you need more time, don’t forget to file for an extension of time to file your return. That way you won’t face penalties for failing to file on time or failing to pay on time.” above…
TIA
Correct.
You’re quoting from the original post below the line before the updated guidance above the line.
What about the 1st quarterly 2020 estimate which is due April 15th? Will that also be extended to July 15th?
Yes.
So the the first estimate which is normally due April 15th 15th will be pushed to July 15th but the 2nd estimate which is normally due June 15th will be due as usual? In other words, I will be paying the 2nd estimate before the 1st?
Hopefully the IRS will give guidance soon.
Based upon past experience and as a CPA lawyer for nearly 40 years, I would surmise that their guidance come too late! LOL
Please help, on Monday I filled my taxes electronically with the irs scheduled with a payment to be withdrawn on April 15 of about 10k Does anyone know how I can push off the scheduled withdrawal till July 15 my accountant dosent know as this is unprecedented and he told me to call the irs. I have been on hold for 2 hours. Any suggestions?
You can’t (CPA here)
However, you can empty the bank account the day before this way the withdrawal doesn’t go through. If you bounce a check on the IRS they will charge you a 2% fee (in your case, about $200). You can probably write them a letter and ask them to waive the penalty, corona hardship, and they will most likely waive it.
I yesterday was charged $1500 for extension
Anything I can do now?