WASHINGTON (KCAU) – There’s one less thing for people to worry about during the coronavirus pandemic.
On Thursday, the Treasury Department and Internal Revenue Service (IRS) announced that the federal income tax filing due date will be extended from April 15 to July 15.
Taxpayers can also defer their payments to the new July 15 deadline without any penalties and interest, regardless of the amount that’s owed.
The deferment applies to taxpayers that include individuals, trusts and estates, corporations, and other non-corporate tax filers as well as those who pay self-employment tax.
IRS said that taxpayers don’t need to file any additional forms or call them to qualify for the automatic federal tax filing and payment relief.
Those individual taxpayers who need more time file after the July 15 deadline can request a filing extension by filing Form 4868 through their tax professional, tax software, or using the Free File link.
The businesses that need additional time after the extended deadline must file Form 7004.
IRS is urging taxpayers that are due a refund to file as soon as possible.
Officials said that most tax refunds are still being issued within 21 days.
Even with the filing deadline extended, we urge taxpayers who are owed refunds to file as soon as possible and file electronically. Filing electronically with direct deposit is the quickest way to get refunds. Although we are curtailing some operations during this period, the IRS is continuing with mission-critical operations to support the nation, and that includes accepting tax returns and sending refunds. As a federal agency vital to the overall operations of our country, we ask for your personal support, your understanding – and your patience. I’m incredibly proud of our employees as we navigate through numerous different challenges in this very rapidly changing environment.From IRS Commissioner Chuck Rettig
The IRS is continuing to monitor issues that are related to the coronavirus and have a COVID-19 page for updated information on its website.
The extension of the deadline comes after President Trump’s emergency declaration last week, which is pursuant to the Stafford Act.
The Stafford Act is a federal law that’s designated to bring an “orderly and systematic” means of a federal natural disaster and emergency assistance for the state and local governments in carrying out their responsibilities to help U.S. citizens.
It was enacted in 1988.
Both the Treasury Department and IRS will put out more guidance as is needed and will continue to work with Congress, on a bipartisan basis, on any legislation that will provide further relief to Americans.