Tax Season 2020: IRS extends filing deadlines for most Americans
On March 17, the head of the US Treasury Department, Stephen Mnuchin, said at a press conference that most Americans could receive a three-month grace period for paying income taxes for 2019, writes USA Today.
The IRS will extend the tax payment period after April 15 for another 90 days for millions of people who owe $ 1 million or less, and corporations that owe $ 10 million or less, he said.
Of course, Americans still have to meet the deadline on April 15 if they are expecting a tax refund or claiming a six-month extension of payment, but they can also delay payment up to 90 days after this deadline.
On the subject: 7 common mistakes when filling out a U.S. tax return
“We urge those Americans who can file their tax returns to continue to do so on April 15th, because many must receive tax refunds, and we do not want you to lose those refunds,” Mnuchin said.
“All you have to do is file your tax returns,” he added. "You will not receive automatically accrued interest and penalties."
Read more about the 2020 tax season in ForumDaily special project.
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