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Tax Deadline for Individual Taxpayers Extended to July 15

Tax Deadline for Individual Taxpayers Extended to July 15

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Earlier this week, Treasury Secretary Steve Mnuchin delayed the deadline for individual tax payments by 90 days, moving the deadline to July 15 from April 15, when individual tax returns are normally due.

Today Secretary Mnuchin took to Twitter to announce that the deadline for individual income tax filings has been extended to July 15, 2020.

Mnuchin Twitter annoucement

 

Today’s announcement means that both payments (if money is owed) and filings are due on July 15.

This is a bright spot of news for taxpayers amidst daily coronavirus fears and uncertainty. Now, both business and individual taxpayers get additional time to file and make tax payments without incurring interest or penalties.

These actions come as a result of the government’s effort to mitigate economic disruption associated with the fluid COVID-19 situation.

We’re watching developments on the state front as well. As usual, Maryland is following suit with federal developments, but that’s not the case in Virginia.

New Announcements for Maryland Taxpayers

Maryland Comptroller Peter Franchot released a statement on March 20 with several important notes:

  • Businesses who paid their Maryland sales and use taxes for March early may request a refund of their payment by emailing taxpayerrelief@marylandtaxes.gov or by calling 410.260.4020; the payment still needs to be made, just later
  • Business-related tax filing deadlines have been extended; sales and use tax payments that are normally due March 20 do not have to be paid until June 1
  • All Maryland income tax filings and payments, normally due April 15, are now due July 15

Virginia Income Tax Returns Still Due May 1

Virginia state income tax returns are due on May 1 as usual. However, the commonwealth is granting a one-month extension for payment of both individual and corporate income taxes. Those payments are now due June 1.

Need Help?

Contact us here or call 800.899.4623. If you’re among the millions of Americans who have already filed your 2019 tax returns, the deadline extension will have no effect on you.

COVID-19 updates

Published on March 20, 2020