By Laura Saunders
The Treasury Department and Internal Revenue Service said the deadline to file and pay 2019 taxes by July 15 wouldn't be extended further, drawing a line under the administration's consideration of such a move.
Earlier this year, the IRS postponed the tax-filing deadline from April 15 to July 15 due to disruptions caused by the coronavirus pandemic. As recently as last week, Treasury Secretary Steven Mnuchin said a further postponement of the deadline was possible.
In its announcement Monday, the agency reminded taxpayers who need more time to prepare their returns that they can receive a three-month automatic extension to file until Oct. 15, 2020, by filing Form 4868 before July 15. This form, available online, can be filed online.
An extension to file isn't an extension to pay, however. Tax payments are due by July 15, after which interest is assessed and steep penalties may be incurred.
As of June 19, 2020, taxpayers had filed 138 million individual income tax returns, nearly 90% of the total expected. About 93 million filers have received refunds averaging $2,763, according to the IRS.
Write to Laura Saunders at email@example.com
(END) Dow Jones Newswires
June 29, 2020 20:41 ET (00:41 GMT)
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