CORONAVIRUS: Should you try to file your tax return by April 15?
Authored By: Northwest Justice Project
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If you owe taxes this year, you may have options.
If you owe taxes, you do not have to file by April 15 this year. The IRS is going to defer tax payments. That means that if you file your tax return and you owe up to one million dollars, you can put off paying the IRS interest free and penalty free until July 15, 2020.
You should still try to file on time. This is especially true if you are due a refund, or if you expect to get a stimulus payment under the package Congress just passed on March 27, 2020.
You can still extend your time (get a later filing deadline) to file a tax return. There will be no penalty if you file late.
Read more at www.irs.gov/coronavirus.