Wednesday, March 18, 2020

IRS Issues Guidance On Tax Payment Deferrals, Confirms That Tax Filing Due Dates Have Not Been Extended


Not extending the deadline for filing income taxes is not good. Tax-Aide has been suspended for safety reasons, and many of our clients do feel able to figure out how to file their taxes themselves, and it would be a real hardship for them to have to pay a professional tax preparer. They might not be able to figure out how to file for an extension on their own.

https://www.forbes.com/sites/kellyphillipserb/2020/03/18/irs-issues-guidance-on-tax-payment-deferrals-confirms-that-tax-filing-due-dates-have-not-been-extended/#c3d3c3f48529

Kelly Phillips Erb
Mar 18, 2020,03:41pm EDT

As the numbers of confirmed cases of COVID-19 continue to increase in the United States, the federal government is taking action to reduce the impact on taxpayers. Specifically, the Internal Revenue Service (IRS) has officially announced that the due date for making tax payments has been pushed to July 15, 2020.

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Interest, penalties and additions to tax will accrue on tax in excess of the these amounts due but not paid by April 15, 2020.

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The relief also does not apply to the filing of any tax return or information return. In other words, filing dates are not extended. The official deadline for filing your individual federal income tax returns remains April 15, 2020. If you need more time to file your federal income tax return, consider filing for an extension.

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