Tax Deadlines Postponed to July 15, 2020, due to Coronavirus

 In Elder Law, Tax Law

In March 2020, in response to COVID-19, the IRS announced that taxpayers generally would have until July 15, 2020, to file and pay federal income taxes originally due on April 15, 2020. No late-filing penalty, late-payment penalty, or interest will be due.

On April 9, 2020, the Department of Treasury and the IRS expanded this relief to additional returns, tax payments, and other actions. As a result, the extensions generally now apply to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020. Individuals, trusts, estates, corporation and other non-corporate tax filers qualify for the extension. This means that anyone, including Americans who live and work abroad, can wait until July 15 to file their 2019 federal income tax return and pay any tax due.

The extensions are automatic and apply to all taxpayers. Taxpayers do not need to file other forms or contact the IRS to qualify.

Fred Jacobs is a Florida Board Certified Tax Lawyer.  Contact Fred at Bach, Jacobs & Byrne, P.A. to discuss tax planning for you and your family. Call (941) 906-1231 to schedule an appointment.

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