16 Tax Deadline Changes You Need To Know

Due to the coronavirus pandemic, there have been a few tax deadline changes. So if you are an individual payer, employee, or employer, it is important that you understand the modifications, especially when it comes to the due dates so you will be able to avoid fines or penalties.

Highlighted below are some important changes that you need to know:

Tax Return Deadline

As of March 20, 2020, the Treasury Department has announced that the new deadline for tax returns is now July 20, 2020 instead of April 15th. This is in lieu of the 90-day extension that was given due to the outbreak of the coronavirus.

Tax Payment Deadline

The same as the tax return deadline, the tax payment deadline has also been moved from April 15, 2020 to July 2020.

Eligibility for the Tax Filing and Payment Deferral

Anyone who is filing the individual form 1040, corporation form 1120, trust and estates form 1041, as as well as fiscal year partnerships, association, and companies with due dates on April 15, 2020 are eligible to use the special coronavirus tax extension.

Furthermore, you don’t have to be sick, quarantined, or have any direct impact from the coronavirus to qualify for relief.





 

 
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