{"id":466443,"date":"2020-03-19T14:03:04","date_gmt":"2020-03-19T20:03:04","guid":{"rendered":"https:\/\/maddoxthomson.com\/?p=466443"},"modified":"2022-09-21T13:54:42","modified_gmt":"2022-09-21T19:54:42","slug":"tax-deadlines-have-just-been-pushed-out","status":"publish","type":"post","link":"https:\/\/maddoxthomson.com\/tax-deadlines-have-just-been-pushed-out\/","title":{"rendered":"Attention: Important Tax Deadlines Have Just Been Pushed Out"},"content":{"rendered":"

The Treasury Department and the Internal Revenue Service (IRS) are offering up some welcome relief for taxpayers this tax season in response to the coronavirus pandemic.\u00a0 The deadlines for\u00a0filing<\/em> 2019 tax returns and for making 2019 income tax<\/b>\u00a0payment<\/b><\/em>s<\/b><\/em>\u00a0have officially been pushed back to<\/b>\u00a0July 15th<\/strong>. Meaning, individuals and businesses will have an extra 90 days to file their tax returns and pay the IRS if they owe additional income tax for 2019 (however, limitations do apply and are described in detail below).\u00a0 Now that there is no need to file for an extension by April 15th, as long as your tax return is filed by July 15th, you will avoid late-filing penalties. During a coronavirus briefing earlier in the week, Steven Mnuchin, United States Secretary of the Treasury, stated simply, \u201cAll you have to do is file your taxes; you\u2019ll automatically not get charged interest in penalties.\u201d\u00a0Please note, the new July 15th deadline applies to federal tax income payments only. Individual states set their own deadlines. You can check your specific state\u2019s deadlines\u00a0here<\/a>.<\/p>\n

As part of the government\u2019s plan to counter the economic fallout from coronavirus, individual and small business filers can defer payments of up to $1 million of their 2019 taxes due and corporations can defer up to $10 million of their 2019 taxes due. In addition, 2020 Q1 estimated tax payments that are normally due from businesses on April 15th have also been deferred to July 15th.<\/u><\/u><\/p>\n

However, what if one is unable to file their taxes by the April 15th deadline? Like always, taxpayers can still request a six-month extension to file returns, giving taxpayers until October 15th to do so. The form to request\u00a0a six-month filing extension can be found\u00a0here<\/a>.<\/u><\/u><\/p>\n

For further information on the various coronavirus tax relief efforts being conducted by the IRS, please visit\u00a0https:\/\/www.irs.gov\/coronavirus<\/a>.<\/u><\/u><\/p>\n

As always, if you would like to discuss the information we\u2019ve provided in further detail, please feel free to reach out to us at Maddox Thomson & Associates. We are happy to provide tax guidance or support, especially during these particularly trying times.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Treasury Department and the Internal Revenue Service (IRS) are offering up some welcome relief for taxpayers this tax season in response to the coronavirus pandemic.\u00a0 The deadlines for\u00a0filing 2019 tax returns and for making 2019 income tax\u00a0payments\u00a0have officially been pushed back to\u00a0July 15th. Meaning, individuals and businesses will have an extra 90 days to…<\/p>\n","protected":false},"author":4,"featured_media":466761,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[190,144,132],"authors":[],"_links":{"self":[{"href":"https:\/\/maddoxthomson.com\/wp-json\/wp\/v2\/posts\/466443"}],"collection":[{"href":"https:\/\/maddoxthomson.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maddoxthomson.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maddoxthomson.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/maddoxthomson.com\/wp-json\/wp\/v2\/comments?post=466443"}],"version-history":[{"count":2,"href":"https:\/\/maddoxthomson.com\/wp-json\/wp\/v2\/posts\/466443\/revisions"}],"predecessor-version":[{"id":466802,"href":"https:\/\/maddoxthomson.com\/wp-json\/wp\/v2\/posts\/466443\/revisions\/466802"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/maddoxthomson.com\/wp-json\/wp\/v2\/media\/466761"}],"wp:attachment":[{"href":"https:\/\/maddoxthomson.com\/wp-json\/wp\/v2\/media?parent=466443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maddoxthomson.com\/wp-json\/wp\/v2\/categories?post=466443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maddoxthomson.com\/wp-json\/wp\/v2\/tags?post=466443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}