IRS Delays Federal Tax-Filing Date to July 15

Katie Brennan |
Categories
federal taxes
Tax Planning

Thursday, March 26th, 2020

In response to COVID 19, Federal tax forms and payments won't be due to the Internal Revenue Service until July 15 this year.  Please note: this applies to Federal taxes only.  You will need to check with your tax professional in regards to what your specific state requires.  

According to Treasury Secretary Steven Mnuchin, "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."

Mnuchin is encouraging anyone who is due a refund to continue with filing so they can get their checks more quickly. The IRS recommends filing electronically.

Please be advised we are NOT CPA's and recommend that you contact your tax professionals.

Click here to read Federal IRS guidelines

Please find additional resources enclosed below. We encourage you to share with friends and family who may need guidance on the following;

  • Mortgage forbearance: contact your mortgage provider directly to see if there are any options.  Pay attention to email communications from your mortgage company to see if you can handle electronically which will likely save you time (given call volume).
  • Help for Small Businesses: SBA Offers Statewide Disaster Assistance to Massachusetts Small Businesses Economically Impacted by the Coronavirus (COVID-19). Click here for additional information. 
  • Filing for Unemployment: Click here to read more and how to apply online.

Remember, your health is our #1 priority.  Please adhere to the health guidelines to "flatten the curve."

As always, we welcome you to reach out with any questions or concerns. Stay safe!

With gratitude for your trust,

Your Team @ Beacon Financial Planning of Cape Cod