Federal Tax Extension
The U.S. Treasury Department has announced that the federal tax-filing deadline has been extended from April 15 to July 15, 2020. Individuals and corporations can also delay their tax payments for 90 days. Individuals can defer up to $1 million in payments for 90 days from the April 15 deadline.
Taxpayers have until July 15, 2020, to respond to the IRS to verify that they qualify for the Earned Income Tax Credit or to verify their income. These taxpayers are encouraged to exercise their best efforts to obtain and submit all requested information, and if unable to do so, please reach out to the IRS indicating the reason such information is not available. Until July 15, 2020, the IRS will not deny these credits for a failure to provide requested information.