With the Coronavirus pandemic across the United States, the US treasury secretary has announced that Americans will have an additional three months to file their taxes.
This means that ‘Tax Day’ is now July 15th – and all taxpayers and businesses will have this additional time to file and make payments without interest or penalties. Taxpayers will still have the ability to request a six-month extension to file returns, like they could in any other year.
The new deadlines announced by the administration apply to federal tax income payments only. It’s up to states to set their own deadlines.
The White House had announced previously they were deferring tax payments for 90 days, but that Americans would still need to file by April 15 – as of March 20th, this deadline is now July 15th. As well as that, individual and small business filers would be able to defer payments of up to $1 million and corporations can defer up to $10 million without incurring interest or penalties.