Treasury and IRS Will Extend Tax Filing Deadline to July 15Read Time: 1 min
Treasury and IRS announced earlier this week that the time for paying taxes will be extended 90-days. See “IRS Does Not Extend Time to File Tax Returns, But Does Extend Time to Pay Taxes.” Today, Treasury Secretary Mnuchin announced the tax return filing date will be moved to July 15, 2020, from April 15, 2020. Expect the IRS to issue a notice shortly on this extension.
This move by Treasury and the IRS does not move the date for the filing of state income tax returns, but most states have or likely will mover the due date for filing state income tax returns. The American Institute of Certified Public Accountants (AICPA) is tracking changes states are making to their tax return filing dates. See State Tax Filing Guidance for Coronavirus Pandemic.
No guidance has been issued at this time extending the time for depositing payroll taxes or filing IRS Forms 941, Employer’s Quarterly Federal Tax Return.