The deadline for tax registration extended notification comes directly from Finance Minister Steven Mnuchin. He made the announcement via his Twitter account (NYSE: TWTR) on Friday. This extension will drive back the tax day from April 15 to July 15.
According to Mnuchin, the extension of the deadline for tax registration is a direct request from President Donald Trump. It enables all taxpayers and companies to file and pay taxes later without incurring any interest or penalties.
The Internal Revenue Service backs up Mnuchin’s statements on Twitter. A Tweet from the state organization has it Retweeting Mnuchin’s own Tweet and confirms the extension of the deadline for tax registration.
Even if the tax deadline is extended, Mnuchin advises taxpayers to file early. He says this will enable the government to get tax returns out to people faster.
It is worth noting that this only covers federal taxes paid to the IRS. The due date for state taxes still varies. Some states have postponed the date, but others have not yet done so. However, this can change over time.
Coronavirus from China is behind the change to Tax Day in the USA. The effects of the virus have swept the country. As a result, many companies have been forced to close their doors and employees temporarily lose their jobs. Fortunately, there are some companies that pay employees even when they are shut down due to the virus.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/03/tax-filing-deadline-extended/.
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