IRS Extends Deadline to Pay Taxes
Returns Still Due April 15
To combat anticipated financial hardships occurring as a result of COVID 19, the Treasury Department has announced that taxpayers may postpone the payment of up to $1,000,000 in income taxes due for 2019 ($10,000,000 in the case of corporations) until July 15, 2020 without penalties and interest. The $1,000,000 limitation applies regardless of whether the taxpayer is filing an individual or joint return. Income tax returns are still due on April 15, but taxpayers needing more time to file their returns may still file a request with the IRS for an automatic six-month extension.
to read the official guidance from the Treasury Department.