In the light of concerns around the pandemic, there have been many updates orbiting the tax payment deadline. It’s time to clear the air, and put a halt to the widespread confusion among different social mediums, clients, and the public at large.
Since the past few weeks, plenty of tax publications believed in pushing headlines with,’The tax payment deadline extended to July 15 amid the Coronavirus pandemic’. However, yesterday’s comments by the Treasury Secretary, Steven Mnuchin, weren’t as simple as providing everyone with an additional 90 days (i.e., July 14) to file their 2019 income tax returns. Instead, Mnuchin announced a 90 day grace period for paying taxes due for 2019, from the April 15 deadline to July 14, for up to one million dollars of taxes for individuals, and the tax payment deadline continues to remain on April 15, 2020.
MyTaxFiler is here to help the taxpayers with tax-filing amid the extreme pressures – the closings, layoffs, and cancelations around the country. Further, we advise all taxpayers not to panic, and continue their standard tax planning as they were proceeding so far. The MyTaxFiler team will keep all the taxpayers updated with the latest tax information, and the changes in the deadline.