Here is the latest update regarding the IRS deadline to file business income taxes and personal income taxes.
Last week this update was released by the IRS…
Taxpayers must file their personal and business income tax returns by April 15. However, the IRS will waive penalties and interest on tax payments for 90 days.
As of March 20, 2020 the Trump administration has amended this. This latest update deals with the deadline for the income tax return itself.
Now, BOTH income tax payments and income tax return filing has been pushed back from April 15, 2020 to July 15, 2020.
Essentially, the new “Tax Day” is July 15, 2020. This gives all individual tax payers and business income tax filers will have an additional 90 days to file and pay their taxes.
The ExpressExtension team will continue to monitor and track any IRS updates as we move forward. You can trust us to provide you with accurate information and work with our clients to ensure seamless tax e-filing regardless of deadline changes.
When Should I File An Extension?
If you foresee that you will need an extension beyond this new deadline, you can file an extension now!
To request a 6-month extension for your individual income tax return, you will need to file Form 4868.