It was announced that Tax Day, normally April 15, will now be postponed to July 15 due to the COVID-19 pandemic. Treasury Secretary Steven Mnuchin confirmed the change of deadline with President Trump’s order.
“All taxpayers and businesses will have this additional time to file and make payments without interest or penalties,” stated Mnuchin in a tweet.
The additional time to file is available only to those who owe $1 million or less, as well as to those businesses which owe $10 million or less. The tax filing delay is meant to help those who are finding themselves to be in a financial bind due to COVID-19.