Posted on 03/21/2020 10:09:26 AM PDT by SeekAndFind
The IRS is extending the federal income tax filing deadline to July 15 as part of a growing effort to stem the financial pain from the coronavirus pandemic, Treasury Secretary Steven Mnuchin announced Friday.
The move gives Americans three months more than they normally would have to file their income tax returns for the 2019 tax year, without incurring interest or penalties.
President Donald Trump later Friday said that “hopefully” by the time the new deadline arrives “people will be getting back to their lives.”
“At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15,” Mnuchin wrote in a tweet about the extension.
“All taxpayers and businesses will have this additional time to file and make payments without interest or penalties,” he wrote.
In a second tweet, Mnuchin urged taxpayers who might receive refunds this season “to file now to get your money.”
Trump echoed that suggestion during a White House press conference.
Tax payments that were due on April 15 now will be due July 15, regardless of the amount, according to guidance issued by Treasury and the IRS late Friday.
Earlier, the agencies only allowed individual taxpayers to defer up to $1 million in taxes (and up to $10 million for corporations) until July 15.
Most Americans are entitled to refunds when they file their federal tax returns.
As of March 13, the Internal Revenue Service had issued 59.2 million refunds out of the 76.2 million million individual income tax returns it had received, or 77.7% of the total number of returns filed by that date.
The average refund check was $2,973, according to IRS data.
(Excerpt) Read more at cnbc.com ...
“Most Americans are entitled to refunds when they file their federal tax returns.”
Why would I wait three months to file then?
“Why would I wait three months to file then?”
If you’re getting a refund you can file any time, but you don’t HAVE to file until later.
Its less than 300 DEATHS!!! GET US BACK TO BUSINESS...NOW, SSTEVIE!
Yippie...not.
What good is the filing extension if there’s no means of production?
Totally.
What about this Quarter’s estimated tax payments?
I pay so I’m waiting until 1159 on July 15th to send the check.
If we don’t file by April 15, does this mean we have to file an extension form?
What about state tax filings?
Montana is July 15th.
IRS extends putting off to the last minute taxes to July.
Me too. I’ve filed but I’ll keep my money as long as I can.
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