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What do you need to know?

IRS Extends Due Date for 1040 Tax Returns and Payments

3/27/2020

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In a situation where any extra time to take care of responsibilities (and pay bills) feels like a giant gift, the IRS has officially suspended the tax filing deadline until July 15 and also suspended tax payments due originally due on April 15 until that date.
These two actions are separate, because even when you file your taxes on time, if you owe the IRS money but do not pay it by the deadline, you immediately start accruing fees and interest. With the actions paired like this, it really is a complete three-month relaxation.
Also during this time, the IRS has set up a webpage where it will gather relevant data related to the coronavirus emergency. During a time when the news cycle seems faster than ever and rumors and first steps can be reported as final actions, having a place like this where you can go and get the real information directly from the source can be necessary to see through/interpret rhetoric read elsewhere.
This webpage is located at irs.gov/coronavirus.

Please note that many states, including Pennsylvania, have also extended the due dates for tax returns, but you should check with your tax preparer to see if your state is included.
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