Treasury Secretary Steven T. Mnuchin announced via Twitter on Friday that taxpayers now have until July 15 to file their tax returns.
“We are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties,” he wrote.
Earlier in the week, the U.S. Treasury Department and Internal Revenue Service (IRS) issued guidance allowing all individual and other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest.
The guidance allows corporate taxpayers a similar deferment of up to $10 million of federal income tax payments that would be due on April 15, 2020, until July 15, 2020, without penalties or interest.
“Treasury and IRS are ensuring that hardworking Americans and businesses have additional liquidity for the next several months,” Mnuchin said.
The guidance will result in about $300 billion of additional liquidity in the economy in the near term. Treasury and IRS will issue additional guidance as needed and continue working with Congress, on a bipartisan basis, on legislation to provide further relief to the American people.
To ensure the safety and health of #IRS employees and taxpayers, all Taxpayer Assistance Centers are temporarily closed in response to the #COVID19 outbreak. Nearly every tax issue can now be resolved online. Please find tools and resources at www.irs.gov/help
In response to #COVID19, Treasury and #IRS allow most tax payments to be delayed until July 15. No other filing is necessary for payment extensions. See free options at: www.irs.gov/coronavirus
@USTreasury and #IRS issue guidance on delaying tax payments says that if you don’t have a tax balance due, file as quickly as possible to get your refund.
IRS also urges taxpayers who are owed a refund to file as quickly as possible.