Tax Season Postponed by Pandemic

Cary, NC — In light of current events and potential financial difficulties caused by the COVID-19 outbreak, the Internal Revenue Service (IRS) has postponed the 2019 federal income tax filing and payment deadline until July 15, 2020.

Those who owe payments up to $1,000,000 as individuals or $10,000,000 as a corporation may claim the 90-day delay in payment without interest or penalties. It is recommended that you consult your tax, legal, and accounting professionals before modifying your existing tax strategy.

While this article is intended to keep you updated on the most recent information, this is not a replacement for real-life tax advice.

Story courtesy of Briant Sikorski, a Wealth Advisor at Stratos Wealth Partners. Featured image by QuoteInspector.

1 reply
  1. Bill Watson
    Bill Watson says:

    Does a similar penalty and interest delay apply to state income tax filings – ie 90-day delay in payment without interest or penalties? Turbotax is telling me differently, that we can delay filing, but that we are responsible to pay any penalties or interest for late filing vs. the normal April 15th filing.

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