This morning, Friday, March 20, 2020, the Treasury Department and IRS announced that the income tax filing deadline for 2019 individual and business income tax returns has been extended to July 15, 2020, along with tax payments owed, as announced earlier this week.

Treasury Secretary Steven Mnuchin tweeted, “At @realDonaldTrump’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.”

The new tax filing deadline is part of several actions the government has taken to assist individuals and business, and minimize economic disruption, during the COVID-19 pandemic. During his White House briefing this morning, President Trump stated that the 90-day tax filing extension will give taxpayers more time in hopes that they will be getting back to their lives by then.

It is still recommended that taxpayers expecting a refund on their 2019 taxes file now to get their refunds from the IRS sooner. Also, now is the time to file any outstanding tax returns from previous years.

We recognize that things are changing daily as this crisis evolves. We will continue to provide updates as we receive them. You can access all of our client alerts HERE. In the meantime, please contact us at 602.776.6300 if you have questions or concerns.