Tax forms and payments won’t be due to the Internal Revenue Service until July 15 this year, Treasury Secretary Steven Mnuchin said in a tweet.
“We are moving Tax Day from April 15 to July 15,” Mnuchin said. “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.”
The announcement follows an earlier decision in the wake of the coronavirus pandemic to move the payment deadline, but not the filing deadline, to July 15. Tax professionals and lawmakers of both parties has said that could confuse taxpayers to have forms and payments due on separate days.
The change gives both individuals and corporations an additional three months to file before they would owe interest and penalties for filing late.
This article was provided by Bloomberg News.