UPDATE: Coronavirus and IRS Deadlines-Filing Extended to July 15

As an update, coronavirus concerns have lead to an updated IRS deadline of filing and paying individual and C-Corp returns by July 15th

As I blogged last Friday and then posted on our Facebook page, the coronavirus affected IRS deadlines by extending payment due dates for individual and C-Corp taxes, but not filing deadlines.  The tax preparing community immediately responded, indicating that taking extensions for so many clients wasn’t feasible.  In light of that concern, Secretary of the Treasury Steven Mnuchin tweeted on Friday that the deadline for filing would be extended as well.

There has been some confusion about the tax filing / tax payment deadline extensions, but ultimately it has been confirmed that both the filing and the payment deadlines have been extended from April 15 to July 15 giving all taxpayers and businesses additional time to file and make payments without interest or penalties.  In short, the coronavirus affected IRS deadlines for both payment and filing of individual and C-Corp taxes.

If you are expecting a refund, however, the Treasury Department encourages you go ahead and file as soon as possible – the sooner you file, the sooner you will get your refund.  The blog from last week may be found here.  https://galligan-law.com/coronavirus-and-irs-deadlines/

Resource: Tax filing deadline moved to July 15, the latest measure to battle coronavirus downturn, The Washington Post, March 20, 2020

 

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