IRS: taxpayers can defer payments to July 15 with no penalties

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FILE – This July 24, 2018, file photo shows a portion of the 1040 U.S. Individual Income Tax Return form. The Trump administration is working on plans to delay the April 15 federal tax deadline for most individual taxpayers as well as small businesses. Treasury Secretary Steven Mnuchin told Congress on Wednesday, March 11, 2020, that the administration is “looking at providing relief to certain taxpayers and small businesses who will be able to get extensions on their taxes.” (AP Photo/Mark Lennihan, File)

ALBANY, N.Y. (NEWS10)- Taxpayers will have until July 15 to file their federal income taxes. They can also defer payments without interest or penalties until that time.

The deferment is available to all taxpayers including individuals, trusts/estates, corporations/other non-corporate tax filers and those who pay self-employment tax no matter how much taxes are owed. The Internal Revenue Service (IRS) is telling taxpayers getting a refund to file a return as soon as possible.

“Even with the filing deadline extended, we urge taxpayers who are owed refunds to file as soon as possible and file electronically,” said IRS Commissioner Chuck Rettig. “Filing electronically with direct deposit is the quickest way to get refunds. Although we are curtailing some operations during this period, the IRS is continuing with mission-critical operations to support the nation, and that includes accepting tax returns and sending refunds.”

Taxpayers need not file any additional forms or call the IRS for the extension/payment deferment. Individual taxpayers filing after the July 15 extension should have their tax professional file Form 4868. This form can also be filed using tax software or the Free File link on IRS.gov. Businesses filing after the extension deadline must file Form 7004.

Further information can be found on the IRS website.

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