COVID-19 UPDATE: Tax Deadline Extended

Orange City Iowa Estate Planning

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Treasury Secretary Steven Mnuchin announced Friday that the administration has moved the IRS deadline for filing taxes from April 15 to July 15 due to the disruption caused by the coronavirus.

tax deadline extended

There has been some confusion about the tax filing / tax payment deadline extensions. On Friday, March 20, we finally got clarity. Both the filing and the payment deadlines have been extended from April 15 to July 15-giving all taxpayers and businesses additional time to file and make payments without interest or penalties.  This is in response to businesses shutting down due to COVID-19.

The Treasury was hesitant to do this because doing so “may result in fewer Americans getting their tax refunds at a weak moment for the American economy.”

If you are expecting a refund, however, the Treasury Department encourages you go ahead and file as soon as possible – the sooner you file, the sooner you will get your refund.

All of us here at the Huizenga Law Firm strive to make sure you have all the information you need when it comes to the coronavirus.  Be sure to look at our blog for more updates on how COVID-19 will effect you and your estate plan.  If you have any questions, call us at 712-737-3885 or email us at info@huizengalaw.com.

Resource: Tax filing deadline moved to July 15, the latest measure to battle coronavirus downturn, The Washington Post, March 30, 2020

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