- March 20th - Treasury Secretary Mnuchin announced that Tax Day would be moved from April 15th to July 15th and moved the deadline for both filing and payment of federal taxes to July 15th.
- March 17th - The IRS sent out Notice 2020-17 “Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic” announcing that the deadline for payment of outstanding balances would be postponed until July 15th.
Summary of Notice 2020-17
- Any outstanding balance on your tax return does not have to be paid until July 15th
- All penalties and interest that would have been owed will be waived
- 2020 Estimated Tax Payments will now be due on July 15th as opposed to April 15th
NOTE: This is not guidance for your state tax returns. Rather, this is guidance for your federal return.
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As always, this is meant to serve as a guide. Please consult an accountant or tax professional if you have any doubts or concerns.
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