Tips March 23, 2020

IRS Postpones Tax Day

by Jackson Hole Radio News

They say there are only two things that are certain: death and taxes. However, it appears at least one of those can be postponed. Following President Donald J. Trump’s emergency declaration pursuant to the Stafford Act, the U.S. Treasury Department and Internal Revenue Service Saturday announced that the tax filings and payments for all federal income taxes due on April 15th, including self-employment tax and regardless of the amount, will now be due on July 15th this year. Taxpayers are not required to file any documentation to take advantage of this delay, and no interest or penalties will be assessed in connection with this extension. This relief only applies to federal income tax, not state tax payments or deposits or payments of any other type of federal tax.