Buzz
A few days ago, Treasury Secretary Steven Mnuchin revealed that taxpayers can now delay their income tax payments by 90 days, as long as they file by the original April 15 deadline.
However, that has now changed. In a tweet from Mnuchin, he announced that the new Tax Day will be July 15, giving everyone—including businesses—an additional 90 days to submit returns and make payments without facing interest or penalties.
There’s no need to apply for an extension to get this extra time; it will be automatically granted to everyone.
Mnuchin shared in another tweet that if you're expecting a refund, it's still best to file your tax return as soon as possible.
The new deadline also applies to the first-quarter estimated taxes for 2020, which include self-employment taxes.
The IRS website has yet to reflect these changes, but we'll update this post as soon as new information is made available.
