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United States – Treasury Announces Filing Extension

United States – Treasury Announces Filing Extension

U.S. Treasury Secretary Steven Mnuchin announced on Twitter that at President Trump’s direction, the U.S. Treasury Department and the Internal Revenue Service (IRS) are extending the filing deadline for 2019 U.S. federal income tax returns from April 15 to July 15, 2020.

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U.S. Treasury Secretary Steven Mnuchin announced on Twitter that at President Trump’s direction, the U.S. Treasury Department and the Internal Revenue Service (IRS) are extending the filing deadline for 2019 U.S. federal income tax returns from April 15 to July 15, 2020.1  The announcement provides that “[a]ll taxpayers and businesses will have this additional time to file and make payments without interest or penalties.”  No additional details are known at this time.

WHY THIS MATTERS

As reported in GMS Flash Alert 2020-071 (March 18, 2020) the IRS recently extended the payment deadline to July 15th, but the filing deadline remained April 15th.  Now both the payment and filing deadlines appear to be extended to July 15th, providing relief for taxpayers who are having difficulty complying with their U.S. tax obligations due to disruptions caused by COVID-19.   

The above information is not intended to be "written advice concerning one or more Federal tax matters" subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230 as the content of this document is issued for general informational purposes only.

The information contained in this newsletter was submitted by the KPMG International member firm in United States.

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