IRS Extends Deadline to Pay Taxes

March 18, 2020

To combat anticipated financial hardships occurring as a result of COVID 19, the Treasury Department has announced that taxpayers may postpone the payment of up to $1,000,000 in income taxes due for 2019 ($10,000,000 in the case of corporations) until July 15, 2020 without penalties and interest. The $1,000,000 limitation applies regardless of whether the taxpayer is filing an individual or joint return. Income tax returns are NOW DUE JULY 15.*

 *Previously the original filing deadline of April 15 stayed in place, but on March 20 this extended to July 15.

Click here to read the official guidance from the Treasury Department.