On March 20, 2020, U.S. Treasury Secretary Steven Mnuchin announced that the individual tax return filing deadline of April 15th, 2020 has been extended to July 15th, 2020 to coincide with the previously announced payment due date extension for amounts up to US $1,000,000 for individuals and small business filers and US $10,000,000 for corporations. Mnuchin said “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.” Taxpayers can still request a six-month extension to file returns, as in other years.
Taxpayers who anticipate receiving a refund may still wish to file as soon as possible.
If you have any questions, please contact your Lipton advisor.