Tuesday, March 17, 2020
Today the Treasury Secretary announced that the normal Tax Filing deadline of April 15 would be extended 90 days to July 15, 2020. Details have not been released yet however based on remarks it appears that:
- Individual and December year-end corporations will be able to delay filing Federal tax returns AND paying taxes owed, until July 15 without penalty or interest.
- Similarly, California announced a 60-day automatic extension last Thursday. Again, guidance has been scant but it appears that if you can demonstrate any impact from COVID-19 you will be entitled to the extension and payment deferral.
It’s important to note that the Federal and California dates are different. If this changes we will update you here.
If you are expecting refunds on your tax returns you should still file them as soon as practical.
This situation is obviously very fluid. As we get updates and receive more detailed guidance we will update this web page. If you have specific questions about how these changes may affect you, please reach out to us