Federal Tax Deadline Extended by 90 Days

In a move to provide relief for a range of problems cause by the COVID-19 pandemic, Taxpayers will get a three-month extension to pay the income taxes they owe for 2019, Treasury Secretary Steven Mnuchin said at a news conference on March 17.

What do taxpayers need to know?

  • Filers have 90 days beyond the normal April 15 deadline to pay income taxes owed, up to $1 million. During that time, interest and penalties will not apply.
  • All returns or extensions must be filed by the due date to qualify for the delayed payment.
  • Corporate filers would get the same length of time to pay tax amounts due up to $10 million.
  • If you’re due a refund and need cash, it is still recommended to file as soon as you can.
  • Some states are also revising deadlines. Here is a recent article with some information about state deadlines:

Where can I find official resources?

Here are some links to government pages where the latest updates will be posted:

The news in our nation is rapidly evolving given the unprecedented events surrounding COVID-19. The information in this story is subject to change.

Calibre CPA Group’s experienced tax professionals can provide comprehensive accounting and advisory services. Contact us at info@calibrecpa.com

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