In an effort to soften the financial impact of the coronavirus outbreak, the IRS has announced that the deadline to pay your 2019 taxes has been delayed by 90 days.
“We encourage those Americans who can file their taxes to continue to file their taxes on April 15 because for many Americans, you will get tax refunds,” Treasury Secretary Steven Mnuchin said Tuesday. “We don’t want you to lose out on those tax refunds, we want you to make sure you get them. Many people do this electronically, which is easy for them, and easy for the IRS.”
Ordinarily, taxpayers must submit their 2019 tax returns and pay amounts owed by April 15. Under today’s announcement, taxpayers can delay paying their income taxes on as much as $1 million in taxes owed for up to 90 days, placing the new payment deadline at July 15, 2020.
The postponement on payments applies to federal returns. Double-check your state’s tax deadlines to see if there are any delays. At time of publication, Wisconsin has not announced any such extensions. We will do our best to file any updates. Check the WI Department of Revenue for the most up-to-date information.
