No Tax Delay on 2020 Tax Refunds Expected
March 18, 2020 •
We know that the IRS is delaying tax payments for those who owe in 2020. More details below on this.
The important thing to know is that as of right now, there is no plans to delay 2020 tax refunds. As in the money the IRS/Treasury owes to you will not be delayed as of right now.
As a note, make sure you are doing everything you can to get your tax refund quickly. Right now the IRS is still functioning at 100% so this is the time to contact them and make sure your return is prioritized.
2019 Tax Returns Payments can be deferred for 90 additional days following April 15th deadline.
Most Americans can get a three-month reprieve to pay their income taxes for 2019, Treasury Secretary Steven Mnuchin said Tuesday in a press conference.
The IRS will postpone the April 15 tax deadline by 90 days for millions of individuals who owe $1 million or less and corporations that owe $10 million or less, he said.
To be sure, Americans still have to meet the April 15 deadline if they are expecting a refund or are requesting a six-month extension, but they can defer payment for up to 90 days beyond that.
“We encourage those Americans who can file their taxes to continue to file their taxes on April 15 because for many Americans, you will get tax refunds and we don’t want you to lose out on those tax refunds,” Mnuchin said. “We want you to make sure you get them.”
“All you have to do is file your taxes,” Mnuchin said. “You’ll automatically not get charged interest and penalties.”
