The Treasury Department had initially just extended the deadline for Americans to pay any owed income taxes, giving individual and other noncorporate filers until July 15 to pay up to $1 million of federal income tax — including self-employment tax payments — without incurring penalties or interest.
But the delay at first only applied to making a tax payment. Taxpayers were still required to file their returns or apply for an extension by April 15 or face a penalty.
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Tax filing deadline extended to July 15, U.S.
U.S. markets wrapped up one of their messiest-ever weeks Friday, recording their worst finish since the 2008 financial crisis. The Standard & Poor's 500 tumbled 15 percent from where it began Monday.
The craziness ran right up to Friday's closing bell, as the S&P and Dow Jones industrial average plunged more than 3 percent minutes after the World Health Organization warned that world health systems were "collapsing" under the strain of the pandemic.
Taxes 2020: IRS to delay April 15 tax filing deadline to July 15
The Trump administration will push the income tax filing deadline to July 15 from April 15, Treasury Secretary Steven Mnuchin said Friday in a tweet.
Mnuchin said that at President Donald Trump's direction "we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties."
Earlier this week, the IRS had deferred the payment deadline to July 15 but had left the April 15 filing deadline in place.
White House announces major focus on traveling & filing taxes | News | westernmassnews.com
Many things are taking place:
States OK deferment of sales taxes
New York, Illinois, Maryland and Massachusetts have changed their sales tax collection policies on the brink of a key payment deadline to leave restaurants and other small businesses with more cash for the short term.
Payment of the fees has been deferred for about 24,000 restaurants and bars in Illinois for two months, Gov. Jay Pritzker announced Thursday night. The break is being extended to what the state has described as small and midsized operations, or those that paid less than $75,000 in sales taxes for 2019. Four out of 5 eating and drinking places within the state paid less than that amount, the state said.
U.S. Extends Individual Tax Filing Deadline from April 15 to July 15 - WSJ
"All taxpayers and businesses will have this additional time to file and make payments without interest or penalties," Treasury Secretary Steven Mnuchin said on Twitter.
Despite tax day extension, coronavirus restrictions still hobble tax payers and preparers
Tax payers and tax preparers now have an extra 90 days to finish up their tax filing, after Treasury Secretary Steven Mnuchin announced via tweet that tax day would be moved from April 15 to July 15.
"It is such a big relief and I know that taxpayers and preparers will benefit," Brian Streig, a CPA in Austin, Texas, told NBC News.
Preparers and accountants were scrambling to file all their clients' tax returns ahead of the April 15 deadline while also trying to practice "social distancing" and follow President Donald Trump's recommendation to work from home, amid the coronavirus outbreak.
Coronavirus in Iowa: Reynolds suspends fees on property taxes, evictions
Gov. Kim Reynolds on Friday suspended fees related to property taxes and halted most home evictions around the state, a series of loosened regulations aimed at helping Iowans affected by the coronavirus.
The temporary changes went into effect immediately, under a state public health emergency declaration that expires at the end of April 16.
Reynolds' Friday declaration was issued on the same day that state public health officials announced one new case of coronavirus in the state, bringing the total positive cases here to 45.
Happening on Twitter
BREAKING: Tax Day in the United States is being moved due to the coronavirus crisis People and businesses will hav… https://t.co/6nwTzeSiTf business (from New York and the World) Fri Mar 20 14:17:15 +0000 2020
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