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Both IRS Tax-Filing and Tax-Payment Due Dates for 2019 Tax Year Extended to July 15, 2020
In response to the COVID-19 pandemic, U.S. Treasury Secretary Steven Mnuchin has stated that all taxpayers and businesses will have until July 15, 2020, to file and make tax payments for tax year 2019 without interest or penalties. Accordingly, the normal IRS tax-filing and tax-payment date of April 15, 2020, has now been postponed for three months to July 15, 2020.
Taxpayers now have the ability to delay contributing to IRA accounts for tax year 2019 and making certain tax elections tied to the tax-filing deadline for tax year 2019, while preserving the right of taxpayers who are owed refunds to file their tax returns prior to July 15, 2020, to claim such refunds.
Taxpayers should consult with Chambliss or their personal tax advisors to determine whether the filing or payment deadlines for state or local taxes have been similarly modified or extended. Secretary Mnuchin’s comments apply only to federal taxes.
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The material in this publication was created as of the date set forth above and is based on laws, court decisions, administrative rulings, and congressional materials that existed at that time, and should not be construed as legal advice or legal opinions on specific facts. In some cases, the underlying legal information is changing quickly in light of the COVID-19 pandemic. The information in this publication is not intended to create, and the transmission and receipt of it does not constitute, a lawyer-client relationship. Please contact your legal counsel for advice regarding specific situations.
