Tax Day Moved To July 15th!

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Update, 3/20: Tax day will be moved from April 15th to July 15th. Everyone will be able to wait until then to file and pay without interest or penalties. Expect updated guidance from the IRS shortly.

 

Originally posted on 3/18:

Related post: 2020: Is It Worth Paying Your Taxes On A Credit Card To Earn Miles? A Breakdown By Card Benefits And Value


The IRS will allow individuals who owe $1MM or less in taxes and corporations that owe $10MM or less in taxes an extra 90 days from April 15th to pay, without any penalties or interest.

However the filing deadline will still remain April 15th.

If you need more time, don’t forget to file for an extension of time to file your return. That way you won’t face penalties for failing to file on time or failing to pay on time.

Of course if you have a refund coming, you’ll still want to file on time to get it sooner.

Reportedly Americans will also receive payments to help with Coronavirus. Let me know when the check is in the mail. 🙂

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35 Comments On "Tax Day Moved To July 15th!"

All opinions expressed below are user generated and the opinions aren’t provided, reviewed or endorsed by any advertiser or DansDeals.

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Miles

I’m a tax preparer and for a refund u can file up to 3 years

Zali

Till when can a refund be claimed for 2016? April 15, or does the 90 day extension apply for that as well?

Jack out of the box

Enrolled Agent here:
April 15th is my very educated opinion.

JAMES

If an extension was filed timely in 2017, October 15. You may be asked for proof of mailing of the extension.

Jack out of the box

If the extension was paper-filed.

LL

I’m just wondering who confirmed the details. I didn’t see anything on the IRS’ website confirming the details of the relief.

mileagejunkie

Don’t forget about state taxes, NY for example hasn’t extended as of yet.

Jack out of the box
Bob

Your source, other than something Mnuchin tossed out at a press conference? I’ll believe it when I see it.

Results may vary, with state taxes.

Also, no mention of IRS quarterly payments due April 15 and June 15.

LL

We’ll said. Trump just made him say it to boost the stock market that dropped significantly the day before!

Alexander

Supposedly the 1st quarter estimate will be due July 15th but that doesn’t seem to make much sense since there is the June 15th estimate that will supposedly still be due!

Jack

If we actually receive a government “hand out” do you believe it will be treated as income and ultimately a taxable event?

Bob

I remember two “tax rebate” programs during economic crises, and I think for both you had to have filed a tax return, or received Social Security. There was not any cynicism about those programs, but then there was no Internet. True, people have three years to claim a refund — that’s the law, which Congress can change in a week, if they want.

S

Check is coming in the same envelope as the Equifax check.

Jack out of the box
R

IRS Form 4868 (extension form) hasn’t been updated. Unclear how you are supposed to file as there is a line that says “Amount Paying now” and you aren’t paying now

Davidthebest

Deadline was just moved to June 15

Davidthebest

Sorry july 15

Abey

State taxes ? Seems to not help much if we still need to file state

Mo2

What state also extended?

Lkwder

Does that.mean nobody has to file an extension now either?

Alexander

What about the 1st quarterly 2020 estimate which is due April 15th? Will that also be extended to July 15th?

Yoni

Please help, on Monday I filled my taxes electronically with the irs scheduled with a payment to be withdrawn on April 15 of about 10k Does anyone know how I can push off the scheduled withdrawal till July 15 my accountant dosent know as this is unprecedented and he told me to call the irs. I have been on hold for 2 hours. Any suggestions?

Elizabeth Warren

You can’t (CPA here)

Elizabeth Warren

However, you can empty the bank account the day before this way the withdrawal doesn’t go through. If you bounce a check on the IRS they will charge you a 2% fee (in your case, about $200). You can probably write them a letter and ask them to waive the penalty, corona hardship, and they will most likely waive it.

S. G.

I yesterday was charged $1500 for extension
Anything I can do now?

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