It's Official, tax deadlines are extended to July 15 this year

Late on Friday, 3/20/20 the IRS officially announced that, because of the ongoing coronavirus pandemic, tax returns due April 15 will not have to be filed until July 15 this year. Notice 2020-18 was released hours after Treasury Secretary Steven Mnuchin had broken the news in a tweet (see prior coverage here). The AICPA expressed its thanks to Treasury and the IRS for the filing extension and to its members and the state CPA societies for their outreach to federal legislators and administrators on the issue (see statement here).

The postponement applies to any “individual, a trust, estate, partnership, association, company or corporation” with a federal income tax return or income tax payment due on April 15 (affected taxpayer). Any affected taxpayer receives an automatic postponement of that deadline until July 15. They do not have to file Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, or Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns.