Tax Filing Deadline Extended to July 15

tax deadlineOn Friday, March 20, 2020, the Treasury Department and IRS announced that the income tax filing deadline has now been extended from April 15 to July 15, 2020 due to the disruption caused by the coronavirus. The new deadline gives all taxpayers and businesses subject to the April 15 deadline more time to file and pay their taxes without incurring interest or penalties, and without the need to file an extension.

Earlier this week, the IRS announced the extension of the payment deadline, but they did not indicate a change to the filing deadline. Tax experts, including the Partners of Buchbinder, and lawmakers urged the Treasury to delay both the filing and payment deadline, and we are glad to report that our efforts were fruitful.

This delay is part of the government’s efforts to minimize economic disruption due to coronavirus. The Families First Coronavirus Act, passed Wednesday, contains several tax credits for employers who provide paid sick leave or family or medical leave for their employees who miss work for various coronavirus-related reasons. We will be happy to advise you and assist you in taking advantage of any applicable tax relief.

At Buchbinder, it is our priority to continue to provide the same level of service, integrity, and responsiveness to our clients. We all stand together in facing these challenging times.  Please reach out to us, whether to ask a question or to seek support.

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