Income Tax Returns and Payments Extended
The IRS has pushed back the April 15 tax return filing and tax payment deadline to help Americans struggling with the coronavirus crisis.
Ordinarily, taxpayers have until April 15 to file their tax return and pay any tax due. But these are not ordinary times.
The IRS has announced that businesses and individuals will have until July 15, 2020, to file and pay their 2019 taxes. The deferral is part of broad plans by the Trump administration to provide financial relief to Americans during the coronavirus pandemic. (For other actions and proposals to boost the economy, see 11 Coronavirus Stimulus Measures That Could Help You in 2020.)
The administration initially wanted to maintain the April 15 filing date but allow individuals and businesses to postpone payments until mid-July. However, tax professionals and some lawmakers urged the IRS to postpone the filing date as well, arguing that many tax preparers have been unable to meet with clients because of the risk of contracting the coronavirus.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
"The reality is that it will be impossible for every taxpayer and their CPA to prepare and file their taxes in the current environment," Tom Hood, executive director of the Maryland Association for Certified Public Accountants, said in a statement.
We expect most states to follow the IRS and push back their filing and payment deadlines as well. However, you should check with your state's tax agency to confirm and to get additional details specific to your state.
If you're expecting a refund—and typically about 70% of taxpayers get one—you should still file as soon as possible. Through mid-March, the average refund was slightly under $3,000. The Trump administration is also encouraging Americans to file their tax returns as quickly as possible so that more people get refunds sooner, which means more cash available for taxpayers who may be facing financial hardship.
-
What to Watch for When Refinancing Your Home MortgageA smart refinance can save you thousands, but only if you know how to avoid costly pitfalls, calculate true savings and choose the right loan for your goals.
-
The 10 Best Splurge Destinations for Retirees in 2026Come for the luxury vacation. Retire for the lifestyle (if the vacay goes well). What better way to test a location for retiring abroad?
-
Builders Are Offering Big Mortgage Incentives — What Homebuyers Should Watch ForBuilder credits and below-market mortgage rates can ease affordability pressures, but the savings often come with trade-offs buyers should understand before signing.
-
Are You Afraid of an IRS Audit? 8 Ways to Beat Tax Audit AnxietyTax Season Tax audit anxiety is like a wild beast. Here’s how you can help tame it.
-
States That Tax Social Security Benefits in 2026Retirement Tax Not all retirees who live in states that tax Social Security benefits have to pay state income taxes. Will your benefits be taxed?
-
10 Cheapest Places to Live in WashingtonProperty Tax Is Washington your go-to ski destination? These counties combine no income tax with the lowest property tax bills in the state.
-
3 Major Changes to the Charitable Deduction for 2026Tax Breaks About 144 million Americans might qualify for the 2026 universal charity deduction, while high earners face new IRS limits. Here's what to know.
-
Retirees in These 7 States Could Pay Less Property Taxes Next YearState Taxes Retirement property tax bills could be up to 65% cheaper for some older adults in 2026. Do you qualify?
-
Estate Tax Quiz: Can You Pass the Test on the 40% Federal Rate?Quiz How well do you know the new 2026 IRS rules for wealth transfer and the specific tax brackets that affect your heirs? Let's find out!
-
5 Types of Gifts the IRS Won’t Tax: Even If They’re BigGift Tax Several categories of gifts don’t count toward annual gift tax limits. Here's what you need to know.
-
The 'Scrooge' Strategy: How to Turn Your Old Junk Into a Tax DeductionTax Deductions We break down the IRS rules for non-cash charitable contributions. Plus, here's a handy checklist before you donate to charity this year.
