At the direction of President Trump, Treasury Secretary Steven Mnuchin announced, via Tweet, Friday, March 20, that the deadline to both file and pay 2019 Federal income taxes has been extended to July 15.

Key Takeaways

  • The deadline to file and pay 2019 taxes has been extended to July 15.
  • Penalties and interest will not accrue between Apr. 15 and Jul. 15.
  • You can obtain an extension to file (not pay) until Oct. 15, 2020.
  • Refunds are not affected by the new policy.
  • States do not have to follow IRS guidelines for state taxes but most will.

You Don't Have to File or Pay Until July 15

According to Mnuchin, "At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties." 

In updadted guidance issued April 9, 2020, the IRS said that if you owe 2019 taxes to the IRS, or estimated Q1 or Q2 2020 taxes, no payment is due until July 15. The new tax filing and payment deadline means interest and penalties for late filing or payment will not begin to accrue until July 16.

Extensions Available Until October 15

If you need more time to file beyond the July 15 deadline, you can request an extension to October 15, 2020 by filing Form 4868. Businesses that need additional time must file Form 7004. Remember that an extension of time to file is not an extension of time to pay. You need to estimate and pay any tax liability by July 15 or face additional interest and penalties. 

Tax Refunds Continue

If you are expecting a refund, you can file immediately. In an earlier statement Mnuchin said, "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."

The IRS is accepting and processing 2019 tax returns and encourages you to file electronically and use direct deposit to get your refund as quickly as possible. Refunds are not part of the new policy and the IRS gives you up to three years to request a refund, so the deadlines mentioned here are not applicable to refunds. 

Interest and Penalties Will Not Accrue

Under normal circumstances, you must pay any taxes due by April 15 or you will incur penalties and interest. Even a request of an extension to file (Form 4868) doesn’t excuse you from paying without incurring those additional costs.

The effect of the new tax day deadline is that interest and penalties will not begin to accrue until July 16. Remember: The new deadline to file and pay do not constitute tax forgiveness, a form of tax relief available from the IRS. You will eventually have to file and pay.

Important

The COVID-19 situation changes frequently. Check online, especially at IRS.gov for updates and guidance.

State Income Tax Deadlines

If you live in Alaska, Florida, Nevada, South Dakota, Texas, Washington, or Wyoming, state income tax is not an issue since your state has none. You only need to comply with federal and, if applicable, local tax deadlines. According to the AICPA and Tax Foundation, states that have either acted or indicated they would follow IRS guidance are listed below. You can contact your state’s tax authority for updates.

State Deadline Notes
Alabama July 15  
Alaska N/A No state income tax
Arizona July 15  
Arkansas July 15  
California July 15  
Colorado July 15 State payment deadline
  Oct. 15 State filing deadline
Connecticut June 15 State business returns
  July 15 State personal returns
Florida N/A No state income tax
Georgia July 15  
Hawaii July 20  
Idaho June 15  
Illinois July 15  
Indiana July 15  
Iowa July 31  
Kansas July 15  
Kentucky July 15  
Louisiana July 15  
Maine July 15  
Maryland July 15  
Massachusetts July 15  
Michigan July 15  
Minnesota July 15  
Mississippi May 15  
Missouri July 15  
Montana July 15  
Nebraska July 15  
Nevada N/A No state income tax
New Hampshire June 15 State business returns
New Jersey July 15  
New Mexico July 15  
New York July 15  
North Carolina July 15 Offering penalty waivers
North Dakota July 15  
Ohio July 15  
Oklahoma July 15  
Oregon July 15  
Pennsylvania July 15  
Rhode Island July 15  
South Carolina July 15  
South Dakota N/A No state income tax
Tennessee July 15  
Texas N/A No state income tax
Utah July 15  
Vermont July 15  
Virginia May 1 State returns filing
  June 1 State returns payment
Washington N/A No state income tax
    Offering business extensions/waivers
Washington D.C. July 15  
West Virginia July 15  
Wisconsin July 15  
Wyoming N/A No state income tax
Puerto Rico April 15 For returns due in March
  May 15 For returns due April 15

Source: AICPA. Tax Foundation As of Apr. 11, 2020