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IRS Extends Tax Filing Deadline to July

If you haven’t filed your taxes, the Treasury Department and Internal Revenue Service have announced you will now have three additional months to file. The federal income tax filing due date has been automatically extended from April 15, 2020, to July 15, 2020.

The IRS Commissioner, Chuck Rettig urges taxpayers who are owed refunds to file as soon as possible and to file electronically, as it is the quickest way to get refunds.

Tax payers may have an additional incentive in getting their taxes filed sooner rather than later, as The Treasury Department and the Internal Revenue Service have announced that they are providing special relief to individuals and businesses in response to the coronavirus (COVID-19) outbreak. According to these agencies, the stimulus payments will be direct deposited into the same accounts utilized for filing taxes. You can find the latest information in regards to payment checks at https://www.irs.gov/coronavirus.

Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment 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.

Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers who need additional time to file beyond the July 15 deadline, can request a filing extension by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Businesses who need additional time must file Form 7004.

At the direction of Governor Beshear, the Kentucky Department of Revenue (DOR) will adopt most of the Coronavirus Disease 2019 (COVID-19) income tax relief described in recent Internal Revenue Service (IRS) announcement. You can find the latest Kentucky specific information at https://revenue.ky.gov/Pages/index.aspx.

Read the entire article here.


Jenna Walker
Communications Specialist

(606) 365-3555 Ext: 19405
Email: jwalker@fsnb.net