INCOME TAX FILING
In late March, the Treasury and IRS announced that the income tax filing due date had been extended to July 15, 2020. Any income tax returns filed after July 15, 2020 will be subject to late fees and penalties.
Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.
Taxpayers do not need to file any additional forms to qualify for this automatic federal tax filing and payment relief.
Individual taxpayers who need additional time to file beyond the July 15 deadline, can file an extension.
The IRS urges taxpayers who are due a refund to file as soon as possible. Most tax refunds are still being issued within 21 days.