On Tuesday, the White House announced details on how taxpayers will be able to defer tax payments, but you still have to file by April 15.
On Tuesday, the White House announced some details on how taxpayers will be able to defer any tax payments they might have.
“All you have to do is file your taxes; you’ll automatically not get charged interest in penalties,” Mnuchin said during a coronavirus briefing with President Trump looking on.Texas Congressman Kevin Brady, the ranking Republican on the House Ways and Means Committee, made that clear in a press release: “Taxpayers should file by April 15 as normal and the deferral will be applied automatically.”
The IRS provided some details Wednesday about how the deferral will work. The notice underlined the fact that “This guidance does not change the April 15 filing deadline.” The notice also defines “any person with a Federal income tax payment due April 15, 2020” as being affected by coronavirus. On Monday, Congressman Tom Suozzi, a Democrat who represents parts of Long Island and Queens, followed up in a statement. “I am now calling on the Treasury Secretary Mnuchin and IRS Commissioner Rettig to extend the deadline to file tax returns,” they added, saying we need to ensure financial security “by giving people the extra resources they need during this difficult time.”
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