The Treasury Department and IRS are extending the due date for filing of Federal income tax returns and Federal income tax payments otherwise due on April 15, 2020. The new due date is July 15, 2020. The extended time to file is a result of the ongoing Coronavirus (COVID-19) emergency. The extension is automatic and available to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate entities, as well as those who pay self-employment tax. Any interest, penalty, or addition to tax for failure to file or pay tax will not accrue until July 16, 2020, as a result of the extension. If taxpayers need additional time to file beyond the July 15 deadline, they can request an extension by filing the appropriate form. The filing extension does not apply to the filing of any Federal information return due on or before April 15, 2020.
The IRS has not yet provided guidance on whether the extension of the filing deadline to July 15, 2020, also extends the deadline for making contributions to an individual retirement account (IRA) or health savings account (HSA).