Last Updated: March 21, 2020

As of March 20, 2020, the Treasury Department and Internal Revenue Service announced  that the federal income tax filing due date is automatically extended from April 15, 2020 to July 15, 2020 giving certain taxpayers and businesses an additional 90 days to file and pay their 2019 tax liability.

The IRS is still accepting returns and processing refunds within 21 days and urges taxpayers who are due a refund to file as soon as possible.

State tax returns

This relief only applies to federal income returns and tax. Relief does not cover state tax filing and payments or deposits. State filing and payment deadlines vary and are not always the same as the federal filing deadline. The IRS urges taxpayers to check with their state tax agencies for those details.

You can reach your state tax agency and find more information at https://www.taxadmin.org/state-tax-agencies

Frequently Asked Questions

Who is eligible for this relief?

Individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.

What do I need to do to delay my filing and tax payment due date?

You do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. You must file your tax return or extension by July 15 as you normally would.

What if I need more time to prepare my return?

If you can’t file by the July 15, 2020 deadline, you can request an extension to October 15, 2020.

What if I’m getting a refund? 

IRS urges taxpayers who are due a refund to file as quickly as possible.

Does this deferral apply to 2020 estimated tax payments?

This relief also includes estimated tax payments for tax year 2020 that are normally due on April 15, 2020.

What if i already scheduled my federal tax payment based on April 15 deadline. Can i change it?

No. If your tax return is electronically filed and accepted, it can not be undone.

Disclaimer
This article is intended for informational purposes and should not be taken as legal or tax advice. You must consult with your tax, financial or legal adviser about your unique financial situation before acting on anything discussed in this article. TaxBasket LLC is providing informational content for general guidance to help small business owners become more aware of certain issues and topics and this article must never be considered as a substitute for advice provided by your tax, financial or legal advisers. TaxBasket LLC or its members cannot be held liable for any use or misuse of this content.