El Treasury Department and the SInternal Revenue Service (IRS) announced this Tuesday (24.03.2020) that the deadline for filing the federal tax runs from April 15, 2020 to July 15, 2020.
By MiamiDiario Newsroom
taxpayers too may defer federal tax payments due April 15, 2020 as of July 15, 2020, without penalties and interest, regardless of the amount owed.
This deferral applies to all taxpayers, including individuals, corporations and other non-corporate taxpayers, as well as those who pay taxes on self-employment.
The taxpayers they do not need to submit any additional forms or call the IRS to qualify for this tax filing and payment relief.
The individual taxpayers who need additional time to file a return after July 15 can request a filing extension with Form 4868 through your tax professional, tax software, or through the Free File link on IRS.gov. The companies who need additional time must file the Form 7004.
The IRS urges taxpayers who are due a refund to file as soon as possible. Most of the Tax refunds are issued within 21 days. "Even with the filing deadline, we urge taxpayers who are owed refunds to file as soon as possible and file electronically,” said IRS Commissioner Chuck Rettig.
"The electronic filing with direct deposit it's the fastest way to get refunds. Although we are restricting some operations during this period, the IRS continues with mission critical operations to support the nation, and that includes accepting tax returns and submitting refunds. As a federal agency vital to the general operations of our country, we ask for your personal support, your understanding and your patience. I am incredibly proud of our employees as we navigate through many different challenges in this rapidly changing environment.”
El IRS will continue to monitor issues related to COVID-19, and updated information will be published in a coronavirus special page at IRS.gov.
This announcement comes after the President's emergency declaration earlier this week in accordance with the Stafford Law. The Stafford Act is a federal law designed to bring about an orderly and systematic means ofe federal assistance for natural disasters for state and local governments in fulfilling their responsibilities to assist citizens. It was enacted in 1988.
Treasury and the IRS will issue additional guidance as needed and will continue to work with Congress, on a bipartisan basis, on legislation to provide more relief to the American people.
Source: Press release
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