The IRS says all taxpayers — including both individuals and businesses — now have more time to file and pay their tax returns.
Recently, the Internal Revenue Service announced that taxpayers “generally had” until July 15, 2020, to file and pay federal income taxes originally due on April 15 — with no late-filing penalty, late-payment penalty or interest due.
Today, individuals, corporations and other entities (such as trusts and estates) have been given until July 15 to make their 2019 payments, as well as their estimated quarterly tax payments for both the first and second quarters of 2020, without penalty.
“Today’s notice expands this relief to additional returns, tax payments and other actions,” the IRS said Thursday. “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, corporations and other non-corporate tax filers qualify for the extra time,” the agency explained. “This means that anyone, including Americans who live and work abroad, can now wait until July 15 to file their 2019 federal income tax return and pay any tax due.”
Individuals needing extra time can request an extension to Oct. 15, 2020, though they must pay any taxes owed by July 15 to avoid interest and penalties.