In response to the COVID-19 crisis, Treasury Secretary Steve Mnuchin announced via Twitter that Treasury is “moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.”
As we noted in our alert yesterday, Treasury announced earlier this week that the payment deadline date for Federal income taxes due April 15, 2020, would be extended until July 15, 2020 but did not extend the filing date. This announcement indicates that Treasury has reconsidered its position. It seems likely that this announcement also would cover estimated tax payments due on June 15, 2020.
We expect that Treasury and/or the IRS will provide additional information regarding this extension, including which tax returns are covered. Additionally, we continue to monitor state developments in this area.If you have questions, please contact a member of the Ballard Spahr LLP Tax Group.
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