PH COVID-19 Client Alert Series: Treasury Announces Extension of Tax Filing Deadline to July 15
By Joseph Opich & Lauren Smith
Treasury Secretary Steve Mnuchin announced on Friday that the tax filing deadline has been extended to July 15. All individual and business taxpayers have until July 15 to file their returns and make payments without incurring interest or penalties. Mr. Mnuchin urged taxpayers who are expecting refunds to file their returns as quickly as possible.
Details on the implementation of the extended deadline have not yet been released by the Internal Revenue Service.
The move to extend the tax filing deadline comes after pressure from lawmakers and tax practitioners to harmonize the filing deadline with the payment deadline. The Treasury announced earlier this week that individual taxpayers owing up to $1 million and C corporations owing up to $10 million would be given until July 15 to pay their liabilities without penalty or interest.