The IRS issues updated guidance on the 2020 filing season

The IRS formally issued guidance today regarding the government’s emergency response to COVID-19. The April 15th filing deadline has been extended to July 15th. The guidance also allows individuals and non-corporate filers to defer up to $1 million of tax including self employment tax due until July 15th without penalties or interest. Corporate taxpayers can defer up to $10 million.

For taxpayers with refunds it is recommended that they file as soon as they are able too. The complete article can be found here – 

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