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Tax Deadlines Extended to July 15th

Tax Deadlines Extended to July 15th

Update: Minnesota has also extended deadlines. Read more under the heading "Minnesota individual tax filing date extended to July 15" below.

March 20, 2020 - Treasury Secretary Steve Mnuchin just announced on Twitter , at the direction of President Trump, that this year’s tax deadline is moving from April 15th to July 15th. All taxpayers and business will have this additional time to file and make payments without interest or penalties.

We are expecting the IRS to put out additional information in the coming days to provide clarity on how it will be administered including any implications to the previously announced payment delay which included caps of $1 million for individuals and certain other taxpayers and $10 million for corporations. 

We are also hoping to get guidance from Minnesota and the other states regarding their deadlines and the implications to states that follow the federal extension rules.

Minnesota Individual Tax Filing Date Extended to July 15

Governor Tim Walz has officially announced that the State of Minnesota is delaying the individual tax filing and payment deadline until July 15, 2020. Note that Minnesota estimated taxes for 2020 are not included and are still due April 15. You can read more here.

This follows the announcement last week by Steven Mnuchin, Secretary of the Treasury, that the Federal filing and payment deadline is extended to July 15 due to the effects of the novel coronavirus.

In addition, both North Dakota and Wisconsin have extended their tax filing and payment deadlines to conform with the Federal announcement.  

Redpath and Company will follow up with our clients on appropriate strategies once we have additional guidance.

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