March 16, 2020

Updated on March 17, 2020

  • The IRS announced that it will be moving its national income tax filing day from April 15 to July 15 as part of an effort to provide taxpayers with financial relief during such difficult times given businesses are temporarily closing their doors to prevent further spread of the virus
  • Although a tax extension has been implemented, it is still encouraged that all taxpayers file their tax returns and pay their tax debt before the new deadline. 
  • Taxpayers will not be charged interest and penalties should they file the extension. 

Click here to learn more about how Covid-19 is affecting the tax deadline.

Optima Tax Relief provides assistance to individuals struggling with unmanageable IRS tax burdens. To assess your tax situation and determine if you qualify for tax relief, contact us for a free consultation.

  • President Trump has recently announced he would be extending the April 15 filing deadline for those that have contracted the virus
  • President Trump did not specify who specifically would qualify for a filing extension and for how long the extension would be for.
  • It is recommended that all healthy taxpayers file their taxes before the tax deadline.

Everyone is getting ready for tax season with the impending tax deadline right around the corner. However, with the new developments of Covid-19 affecting the general U.S. population and a potential quarantine looming around the corner, taxpayers are wondering how they will be able to get their taxes done. 

How Covid-19 may affect filing your taxes. President Trump has recently announced that because of the new developments and severity of the Covid-19 virus, he would be extending the April 15 filing deadline for those that have contracted the virus. Trump also stated that for those affected by the virus they would be able to defer paying their taxes by next month’s deadline.

What to be aware of when filing an extension. The IRS will most likely require proof for those that have contracted the virus should you choose to file a tax extension. In addition to this, President Trump did not specify who specifically would qualify for a filing extension and for how long the extension would be for. Several states have also extended their state tax filing for those affected by Covid-19.  You can click here to see which states have extended their tax deadlines.  

So what does this mean for those individuals who have not contracted the virus? It means that business is as usual for everyone else as of now. It is recommended that all healthy taxpayers file their taxes before the tax deadline and pay off any tax balance they may have in order to avoid accruing any additional penalties and interest. 

Tax season is almost at an end and it is vital to file your tax returns if you have yet to. It is also recommended to be on the lookout for further tax information regarding the Covid-19 virus and when you are able to file your tax extension should you qualify. 

If you need tax help, contact us for a free consultation.