At the direction of President Trump, the Internal Revenue Service (IRS) is moving its deadline for tax filings from April 15 to July 15, 2020. The IRS said the move is necessary due to the ongoing pandemic and will provide taxpayers and businesses additional time to file and make payments without interest or penalties.
On Wednesday, the Department of Treasury and IRS announced that the tax payment deadline had been extended to July 15, 2020 and that no penalties or interest would accrue until July 16. The extension applies to both individuals (for up to $1 million of 2019 tax due) and C Corporations (for up to $10 million).
The IRS has also announced that Taxpayer Assistance Centers will be closed until further notice to ensure the continued safety and health of employees and taxpayers. Online IRS tools and resources remain available (click here).
The IRS has created a coronavirus information page for taxpayers at www.irs.gov/coronavirus.