IRS Extends Individual Tax Filing Deadline to July 15, 2020

The Internal Revenue Service (IRS) previously announced that the time for payment of income tax and including self-employment tax was extended until July 15, 2020, for amounts up to $1 million for individuals and $10 million for corporations.  The IRS has now clarified that the extension also applies to estimated tax payments that would normally be due on April 15, 2020.

This morning Treasury Secretary Steven Mnuchin tweeted notice that federal income tax return filing deadlines are also extended to July 15, 2020, so all taxpayers will have additional time to file and make payments without the imposition of interest or penalties.  We presume that a more formal announcement will be made by the IRS shortly.

The State of Connecticut has not formally extended either the time for filing 2019 income tax returns or the time for payment of tax.  However, on March 15, 2020, the Connecticut Department of Revenue Services (DRS) issued a press release stating that DRS will adjust due dates for filing and payment of state income taxes to align with those announced by the IRS.  It is likely DRS will make this announcement when the IRS formally announces the extension of filing dates.