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.
At @realDonaldTrump’s direction, 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.
— Steven Mnuchin (@stevenmnuchin1) March 20, 2020
Originally posted on 3/18:
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. 🙂