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The Treasury Department and International Revenue Service are providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 outbreak.
It was announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. This will give taxpayers and businesses additional time to file and make payments without interest or penalties, regardless of the amount owed.
This delay applies to all taxpayers, including individuals, trusts and estates, corporations, and other non-corporate tax filers as well as those who pay self-employment tax.
There is no need to specifically file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. However, those who need additional time to file beyond the July 15 deadline, can request a filing extension by filing Form 4868 (for individual taxpayers, can be found under the Free File link on IRS.gov) or Form 7004 (for businesses).
However, the IRS urges taxpayers who are getting a refund to file as soon as possible. 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," said IRS Commissioner Chuck Rettig. "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."
This relief only applies to federal income returns and tax payments, which are due April 15, 2020. This does not apply to state tax payments or deposits or payments of any other type of federal tax. State filing and payment deadlines vary, so it's recommended to check with state tax agencies for details.